CarGurus (CARG) Draws Fresh Hedge Fund Buying After Q3 Earnings Beat – What Today’s 13F Filings Reveal (25 November 2025)

Today’s batch of U.S. 13F disclosures shows another wave of institutional money moving into online auto marketplace CarGurus, Inc. (NASDAQ: CARG), even as a few firms take profits after a strong run in the shares.

On 25 November 2025, new filings highlight:

A new position in CarGurus by Dynamic Technology Lab Private Ltd
A 39.6% stake increase by hedge fund Eisler Capital Management Ltd
Recent days’ filings showing Universal Beteiligungs und Servicegesellschaft mbH sharply boosting its holding – while Intech Investment Management LLC trims its stake ^[1]

With CarGurus coming off an earnings beat in early November and trading in the mid‑$30s, these moves offer an updated snapshot of how professional investors see the stock heading into year‑end. ^[2]

Key takeaways

Fresh hedge fund interest: Dynamic Technology Lab Private Ltd opened a new CarGurus position in Q2 worth about $379,000, according to today’s filing. ^[3]
Big position add from Eisler Capital: Eisler Capital increased its stake by 39.6%, buying 68,679 additional shares and lifting its holding to 241,899 shares, or roughly 0.23% of the company. ^[4]
European investor ups its bet: Universal Beteiligungs und Servicegesellschaft mbH grew its stake by 72.1% to 111,871 shares (around 0.11% of the stock), worth roughly $3.7 million at the end of Q2. ^[5]
Not every fund is buying: Intech Investment Management LLC cut its CarGurus position by 25.3%, selling 17,046 shares and ending the quarter with 50,200 shares valued at about $1.68 million. ^[6]
Underpinning it all: solid fundamentals: CarGurus’ Q3 2025 results beat Wall Street expectations on both earnings and revenue, and management raised full‑year guidance, with the stock now trading at about 23–24x earnings and a market cap near $3.3 billion. ^[7]

What CarGurus actually does

CarGurus runs a data‑driven online automotive marketplace that connects buyers and sellers of new and used cars. The platform uses algorithms and pricing tools to show shoppers whether a listing is a good, fair, or overpriced deal, and it provides dealer reviews, vehicle history information and financing options. ^[8]

The company also owns international brands such as PistonHeads in the U.K. and operates marketplaces in the U.S., U.K. and Canada, giving it a footprint across multiple major car markets. ^[9]

This asset‑light, marketplace model is a big part of why many institutional investors have been willing to pay a premium multiple for CARG relative to traditional auto retailers.

Eisler Capital lifts its CarGurus stake by almost 40%

One of the most eye‑catching moves in today’s filings is from Eisler Capital Management Ltd.

According to its latest 13F, Eisler: ^[10]

Added 68,679 CarGurus shares in Q2 2025
Increased its stake by 39.6% quarter‑over‑quarter
Now owns 241,899 shares, equivalent to about 0.23% of the company
Reported the position’s value at roughly $8.1 million at the end of the period

The MarketBeat summary accompanying the filing notes that CarGurus’ valuation sits around 23.5 times earnings, with a price‑to‑earnings‑growth (PEG) ratio of about 1.6 and a beta of roughly 1.5, underlining that institutions are paying for growth but accepting a bit more volatility than the overall market. ^[11]

For a multi‑strategy hedge fund like Eisler, boosting a mid‑cap position by nearly 40% is usually a sign of increased conviction—either in the company’s fundamentals, in a relative‑value trade versus peers, or both.

Dynamic Technology Lab opens a new CarGurus position

The second major headline today is a new stake from Dynamic Technology Lab Private Ltd, a quantitative trading and investment firm.

The Q2 filing shows that DTL: ^[12]

Took a new position of 11,328 CarGurus shares
Valued the stake at approximately $379,000 at quarter end

The MarketBeat report on the filing highlights that DTL joins a growing list of big funds that have accumulated CarGurus throughout 2025, including Invesco Ltd., American Century Companies, Wellington Management Group, Boston Partners and Nuveen – many of which dramatically scaled up positions earlier in the year. ^[13]

While DTL’s position is relatively small in absolute terms, the presence of systematic and quant‑driven capital adds another layer of liquidity and can amplify moves around catalysts like earnings and guidance changes.

Universal Beteiligungs ramps up exposure as others trim

Today’s headlines sit on top of several weekend and Monday filings that also reshaped the CarGurus shareholder list:

Universal Beteiligungs und Servicegesellschaft mbH boosted its Q2 stake in CarGurus by 72.1%, buying 46,868 shares and ending the quarter with 111,871 shares (about 0.11% of the company) worth roughly $3.74 million. ^[14]
In contrast, Intech Investment Management LLCreduced its holding by 25.3%, selling 17,046 shares and finishing with 50,200 shares valued at about $1.68 million. ^[15]

Together with earlier Q2 and Q3 filings, these moves underscore a broader pattern:

Net institutional ownership is very high: around 86.9% of CarGurus’ float is in institutional and hedge‑fund hands. ^[16]
Some funds are clearly in “accumulate” mode, adding aggressively on strength; others are trimming but not abandoning positions, which often suggests profit‑taking or portfolio rebalancing rather than a fundamental call that the story is broken.

This push‑and‑pull is typical for a mid‑cap growth stock after a strong rally and a well‑received earnings print.

Q3 2025: earnings beat and higher guidance support the bull case

The institutional activity doesn’t exist in a vacuum. It follows a strong Q3 2025 report that hit the tape on 6 November 2025.

Across the company’s own release and subsequent coverage, key numbers include: ^[17]

Revenue: about $238.7 million, ahead of consensus expectations near $234–235 million, and up 3.2% year‑on‑year
Marketplace revenue: around $232 million, growing 14% year‑on‑year, driven by continued expansion of the core listings and advertising business
Earnings per share (EPS):$0.57, topping analysts’ estimates of about $0.55
Profitability: strong return on equity (~41%) and net margin (~16%), highlighting the leverage in the model
Guidance:
- Full‑year 2025 EPS guidance raised to approximately $2.19–$2.25
- Q4 2025 EPS guided to roughly $0.61–$0.67

The beat‑and‑raise quarter sparked a string of upbeat articles from StockStory, ChartMill, Yahoo Finance and others, many of which pointed to marketplace growth, AI‑driven product improvements and international expansion as the main drivers. ^[18]

It’s this improved earnings trajectory that many institutions appear to be leaning into as they reshuffle their books for 2026.

Analyst sentiment: “Hold” on average, but with upside to targets

Despite the growing list of institutional buyers, Wall Street’s official view is surprisingly muted:

The current consensus rating on CarGurus is “Hold”, based on four Buy ratings and eight Hold ratings, according to MarketBeat’s summary of recent research notes. ^[19]
The average price target sits around $39.95, implying mid‑single‑digit to low‑double‑digit upside from the mid‑$30s share price region. ^[20]
Recent price targets cluster in the high‑$30s to low‑$40s, with firms like BTIG, Citigroup and DA Davidson setting targets around $37.50–$41. ^[21]

On the valuation side, the stock is currently characterised by: ^[22]

A price‑to‑earnings ratio of about 23–24x
A PEG ratio near 1.6, suggesting the growth rate roughly justifies the multiple
A beta of ~1.5, meaning the shares tend to move more than the broader market

In short, analysts generally see CarGurus as fairly valued to modestly undervalued relative to its growth profile, which may explain why hedge funds are more active on the long side than the average rating would imply.

High institutional and insider ownership: double‑edged sword

MarketBeat’s data also highlights that: ^[23]

Institutions and hedge funds hold about 86.9% of outstanding shares
Insiders own roughly 17%, although they have collectively sold about 41,000 shares (around $1.47 million in value) over the last 90 days

This ownership structure has a few implications:

Tight float: With so much of the stock in institutional and insider hands, relatively small shifts in sentiment can translate into outsized price moves.
Professional oversight: High institutional ownership often means the business is under constant scrutiny, which can support governance and capital‑allocation discipline.
Insider selling isn’t automatically bearish: The recent insider transactions are modest relative to overall holdings and may simply reflect routine diversification – but they are worth monitoring, especially if they accelerate or coincide with deteriorating fundamentals.

How to read today’s filings if you follow CARG

For investors tracking CarGurus, today’s 13F data for 25 November 2025 adds a few clear signals:

Net buying from sophisticated players: The combination of a new stake from Dynamic Technology Lab and a sizable add from Eisler Capital underscores that at least some hedge funds view the risk‑reward as attractive after the Q3 earnings beat. ^[24]
Ongoing portfolio rotation rather than a one‑sided stampede: Intech’s reduction and earlier sales by Bank of New York Mellon and others (as highlighted on MarketBeat’s CarGurus news page) show that some institutions are still trimming positions—likely rebalancing after a solid run. ^[25]
Fundamentals still in focus: With guidance raised and marketplace revenue growing double‑digits, the bull case rests squarely on CarGurus’ ability to keep expanding its platform and monetising dealer relationships, rather than on pure multiple expansion. ^[26]

As always, 13F data is backward‑looking (typically reflecting positions as of the end of the previous quarter), so it’s best used as context, not a real‑time trading signal. But taken together, today’s filings suggest that a meaningful slice of professional money continues to see upside in CarGurus at current levels.

Bottom line

CarGurus enters late 2025 with:

Solid Q3 results and higher full‑year guidance
A share price in the mid‑$30s, implying reasonable multiples for a profitable, asset‑light marketplace
A shareholder base dominated by institutions and insiders
Fresh buying from hedge funds like Eisler Capital and Dynamic Technology Lab, offset by selective profit‑taking from others

For market watchers and CARG shareholders alike, the real question now is whether the company can sustain marketplace growth, expand its AI‑driven products, and deepen its international footprint enough to justify further multiple expansion in 2026.

Disclaimer: This article is for information and news purposes only and does not constitute investment advice, an offer, or a recommendation to buy or sell any security.

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