Hsbc Holdings PLC Purchases New Holdings in CarGurus, Inc. $CARG

Hsbc Holdings PLC acquired a new position in CarGurus, Inc. (NASDAQ:CARG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,500 shares of the company’s stock, valued at approximately $952,000.

Other institutional investors have also added to or reduced their stakes in the company. Abel Hall LLC grew its stake in shares of CarGurus by 82.2% during the first quarter. Abel Hall LLC now owns 16,002 shares of the company’s stock valued at $545,000 after buying an additional 7,220 shares during the last quarter. Prevatt Capital Ltd raised its holdings in shares of CarGurus by 12.5% in the first quarter. Prevatt Capital Ltd now owns 2,475,000 shares of the company’s stock worth $84,274,000 after buying an additional 275,000 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of CarGurus by 8.5% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 1,110,231 shares of the company’s stock worth $37,803,000 after acquiring an additional 86,600 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of CarGurus by 11.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 13,391 shares of the company’s stock worth $456,000 after acquiring an additional 1,329 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in CarGurus during the 1st quarter valued at $1,226,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

NASDAQ CARG opened at $37.07 on Thursday. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.18. The company’s 50-day simple moving average is $31.71 and its two-hundred day simple moving average is $32.60. CarGurus, Inc. has a one year low of $26.39 and a one year high of $39.42.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The firm had revenue of $243.56 million during the quarter, compared to analysts’ expectations of $243.10 million. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. Equities analysts expect that CarGurus, Inc. will post 2.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on CarGurus from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. UBS Group set a $35.00 price target on shares of CarGurus in a report on Thursday, May 28th. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Royal Bank Of Canada raised their price target on shares of CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.55.

Insiders Place Their Bets

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,499 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total transaction of $86,365.44. Following the completion of the sale, the insider owned 92,894 shares in the company, valued at $3,210,416.64. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 3,533 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $36.06, for a total value of $127,399.98. Following the completion of the transaction, the general counsel directly owned 88,345 shares of the company’s stock, valued at approximately $3,185,720.70. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,559 shares of company stock worth $841,568 over the last 90 days. Company insiders own 18.19% of the company’s stock.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.