Fifth Third Bancorp Acquires 18,554 Shares of CarGurus, Inc. $CARG

Fifth Third Bancorp raised its holdings in CarGurus, Inc. (NASDAQ:CARG) by 1,007.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,395 shares of the company’s stock after purchasing an additional 18,554 shares during the period. Fifth Third Bancorp’s holdings in CarGurus were worth $694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in CarGurus in the 1st quarter worth approximately $952,000. Abel Hall LLC raised its holdings in CarGurus by 82.2% during the 1st quarter. Abel Hall LLC now owns 16,002 shares of the company’s stock valued at $545,000 after acquiring an additional 7,220 shares during the period. Prevatt Capital Ltd lifted its position in shares of CarGurus by 12.5% during the first quarter. Prevatt Capital Ltd now owns 2,475,000 shares of the company’s stock worth $84,274,000 after acquiring an additional 275,000 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of CarGurus by 8.5% during the first 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 in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of CarGurus by 11.0% in the first 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 period. Institutional investors own 86.90% of the company’s stock.

CarGurus Price Performance

CARG opened at $34.96 on Tuesday. The company has a fifty day moving average price of $31.37 and a 200-day moving average price of $32.62. The firm has a market capitalization of $3.15 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. CarGurus, Inc. has a one year low of $26.39 and a one year high of $39.42.

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

Wall Street Analyst Weigh In

CARG has been the subject of several recent research reports. UBS Group set a $35.00 price target on CarGurus in a research report on Thursday, May 28th. Freedom Capital raised CarGurus to a “strong-buy” rating in a report on Friday, June 12th. Wall Street Zen upgraded CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Barclays lifted their target price on CarGurus from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada upped their price target on CarGurus from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.55.

Insider Buying and Selling at CarGurus

In other news, insider Jennifer Ladd Hanson sold 2,499 shares of CarGurus stock in a transaction dated 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 approximately $3,210,416.64. This trade represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Matthew Todd Quinn sold 3,824 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $35.03, for a total transaction of $133,954.72. Following the completion of the transaction, the chief technology officer owned 233,146 shares in the company, valued at approximately $8,167,104.38. This trade represents a 1.61% 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 have sold a total of 25,559 shares of company stock valued at $841,568 in the last 90 days. Corporate 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.