CarGurus (CARG)
Market Price (9/17/2026): $33.74 | Market Cap: $3.0 BilSector: Communication Services | Industry: Interactive Media & Services
CarGurus (CARG)
Market Price (9/17/2026): $33.74Market Cap: $3.0 BilSector: Communication ServicesIndustry: Interactive Media & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 9.3% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 28% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31% Low stock price volatilityVol 12M is 39% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail. Themes include Online Marketplaces. | Weak multi-year price returns2Y Excs Rtn is -9.0% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.8% Key risksCARG key risks include [1] its significant reliance on dealer relationships in a highly competitive market and [2] the persistent underperformance of its Digital Wholesale segment. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 9.3% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 28% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31% |
| Low stock price volatilityVol 12M is 39% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail. Themes include Online Marketplaces. |
| Weak multi-year price returns2Y Excs Rtn is -9.0% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.8% |
| Key risksCARG key risks include [1] its significant reliance on dealer relationships in a highly competitive market and [2] the persistent underperformance of its Digital Wholesale segment. |
Qualitative Assessment
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CarGurus (CARG) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. CarGurus reported a strong fiscal Q2 2026 earnings beat, surpassing analyst expectations for both revenue and earnings per share. The company announced its fiscal Q2 2026 results on August 6, 2026, for the quarter ended June 30, 2026, with an EPS of $0.66, exceeding the consensus estimate of $0.61 by $0.05. Quarterly revenue reached $250.97 million, a 7.2% year-over-year increase, and was also above analyst estimates of $249.85 million. Other sources indicate a 13% year-over-year revenue growth to $251 million, surpassing guidance.
2. The company provided positive forward guidance for fiscal Q3 2026 and reiterated strong full-year 2026 revenue growth. CarGurus projected fiscal Q3 2026 revenue to be between $253.5 million and $258.5 million, reflecting 9% to 12% year-over-year growth. The full-year 2026 revenue growth guidance was maintained at 10% to 13% year-over-year, and the profitability outlook was raised, signaling continued confidence in future performance.
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CarGurus (CARG) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. CarGurus reported a strong fiscal Q2 2026 earnings beat, surpassing analyst expectations for both revenue and earnings per share. The company announced its fiscal Q2 2026 results on August 6, 2026, for the quarter ended June 30, 2026, with an EPS of $0.66, exceeding the consensus estimate of $0.61 by $0.05. Quarterly revenue reached $250.97 million, a 7.2% year-over-year increase, and was also above analyst estimates of $249.85 million. Other sources indicate a 13% year-over-year revenue growth to $251 million, surpassing guidance.
2. The company provided positive forward guidance for fiscal Q3 2026 and reiterated strong full-year 2026 revenue growth. CarGurus projected fiscal Q3 2026 revenue to be between $253.5 million and $258.5 million, reflecting 9% to 12% year-over-year growth. The full-year 2026 revenue growth guidance was maintained at 10% to 13% year-over-year, and the profitability outlook was raised, signaling continued confidence in future performance.
3. An active share repurchase program has consistently reduced the outstanding share count. CarGurus repurchased $29.2 million worth of shares in fiscal Q2 2026 alone. Since December 2022, the company has repurchased over 30% of its shares outstanding, with a 6% reduction in share count over the past six months, which typically enhances earnings per share and shareholder value.
4. Accelerated adoption of AI-powered products and robust international growth contributed to revenue expansion. The fiscal Q2 2026 results were driven by increasing usage of AI-powered dealer tools and significant international expansion, with international business revenue growing 28% year-over-year.
5. Analysts maintain a "Buy" consensus rating for the stock, with an attractive average price target, suggesting potential undervaluation. Eleven to fifteen Wall Street analysts have issued a consensus "Buy" rating for CarGurus. The average price target ranges from $40.68 to $41.38, representing a potential upside of 17.24% to 25.46% from current levels. As of September 11, 2026, the stock was considered undervalued with a GF Value™ estimate of $42.54 compared to its then-current price of $34.42, and its P/E ratio of 14.3x was significantly lower than its 5-year median of 36.9x.
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Stock Movement Drivers
Fundamental Drivers
The 16.2% change in CARG stock from 5/31/2026 to 9/16/2026 was primarily driven by a 14.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9162026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.86 | 34.70 | 16.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 913 | 942 | 3.2% |
| Net Income Margin (%) | 16.3% | 18.7% | 14.4% |
| P/E Multiple | 18.8 | 17.8 | -5.6% |
| Shares Outstanding (Mil) | 94 | 90 | 4.4% |
| Cumulative Contribution | 16.2% |
Market Drivers
5/31/2026 to 9/16/2026| Return | Correlation | |
|---|---|---|
| CARG | 16.2% | |
| Market (SPY) | -0.3% | 14.3% |
| Sector (XLC) | -2.3% | 50.6% |
Fundamental Drivers
The 13.0% change in CARG stock from 2/28/2026 to 9/16/2026 was primarily driven by a 6.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282026 | 9162026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.70 | 34.70 | 13.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 882 | 942 | 6.8% |
| Net Income Margin (%) | 17.7% | 18.7% | 5.6% |
| P/E Multiple | 18.8 | 17.8 | -5.2% |
| Shares Outstanding (Mil) | 95 | 90 | 5.7% |
| Cumulative Contribution | 13.0% |
Market Drivers
2/28/2026 to 9/16/2026| Return | Correlation | |
|---|---|---|
| CARG | 13.0% | |
| Market (SPY) | 10.2% | 6.9% |
| Sector (XLC) | -4.0% | 34.7% |
Fundamental Drivers
The 0.3% change in CARG stock from 8/31/2025 to 9/16/2026 was primarily driven by a 18.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 9162026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.60 | 34.70 | 0.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 798 | 942 | 18.1% |
| Net Income Margin (%) | 16.3% | 18.7% | 14.8% |
| P/E Multiple | 26.4 | 17.8 | -32.6% |
| Shares Outstanding (Mil) | 99 | 90 | 9.7% |
| Cumulative Contribution | 0.3% |
Market Drivers
8/31/2025 to 9/16/2026| Return | Correlation | |
|---|---|---|
| CARG | 0.3% | |
| Market (SPY) | 17.9% | 19.0% |
| Sector (XLC) | 2.5% | 35.9% |
Fundamental Drivers
The 91.6% change in CARG stock from 8/31/2023 to 9/16/2026 was primarily driven by a 63.9% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9162026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.11 | 34.70 | 91.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,185 | 942 | -20.5% |
| Net Income Margin (%) | 16.0% | 18.7% | 16.8% |
| P/E Multiple | 10.8 | 17.8 | 63.9% |
| Shares Outstanding (Mil) | 113 | 90 | 25.9% |
| Cumulative Contribution | 91.6% |
Market Drivers
8/31/2023 to 9/16/2026| Return | Correlation | |
|---|---|---|
| CARG | 91.6% | |
| Market (SPY) | 73.4% | 44.3% |
| Sector (XLC) | 72.1% | 46.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CARG Return | 6% | -58% | 72% | 51% | 5% | -9% | 10% |
| Peers Return | 39% | -28% | 240% | 59% | 20% | 4% | 569% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| CARG Win Rate | 58% | 33% | 58% | 58% | 58% | 44% | |
| Peers Win Rate | 60% | 40% | 58% | 52% | 57% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| CARG Max Drawdown | -35% | -75% | -28% | -17% | -38% | -31% | |
| Peers Max Drawdown | -28% | -49% | -33% | -22% | -32% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CVNA, CARS, LAD, AN, PAG. See CARG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/16/2026 (YTD)
How Low Can It Go
| Event | CARG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.0% | -18.8% |
| % Gain to Breakeven | 51.4% | 23.1% |
| Time to Breakeven | 177 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.3% | -7.8% |
| % Gain to Breakeven | 12.8% | 8.5% |
| Time to Breakeven | 2 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.0% | -9.5% |
| % Gain to Breakeven | 33.3% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -63.1% | -24.5% |
| % Gain to Breakeven | 171.1% | 32.4% |
| Time to Breakeven | 749 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.5% | -33.7% |
| % Gain to Breakeven | 73.9% | 50.9% |
| Time to Breakeven | 61 days | 140 days |
In The Past
CarGurus's stock fell -34.0% during the 2025 US Tariff Shock. Such a loss loss requires a 51.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | CARG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -34.0% | -18.8% |
| % Gain to Breakeven | 51.4% | 23.1% |
| Time to Breakeven | 177 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.0% | -9.5% |
| % Gain to Breakeven | 33.3% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -63.1% | -24.5% |
| % Gain to Breakeven | 171.1% | 32.4% |
| Time to Breakeven | 749 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.5% | -33.7% |
| % Gain to Breakeven | 73.9% | 50.9% |
| Time to Breakeven | 61 days | 140 days |
In The Past
CarGurus's stock fell -34.0% during the 2025 US Tariff Shock. Such a loss loss requires a 51.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About CarGurus (CARG)
CarGurus, Inc. (CARG) operates as a prominent online automotive marketplace, serving as a vital intermediary that connects buyers and sellers of both new and used cars. The company's primary function is to provide a digital platform where consumers can easily search and browse extensive listings from its network of automotive dealers. Additionally, in the United States, CarGurus offers a service enabling individuals to sell their own vehicles directly through its marketplace.
The company's main products and services cater to two core customer segments. For consumers, CarGurus provides a comprehensive and intuitive online experience to research and discover vehicles, empowering them with information to make informed purchasing decisions. For automotive dealers, CarGurus serves as a powerful marketing and sales channel, offering unparalleled access to a large, informed, and engaged audience of potential car buyers, thereby driving lead generation and vehicle sales.
CarGurus primarily serves automotive markets in North America and Europe. Its flagship CarGurus brand maintains a strong presence in the United States, Canada, and the United Kingdom. To further expand its reach and market penetration, the company also operates other independent online marketplaces, including Autolist in the United States and PistonHeads in the United Kingdom, solidifying its position within the global digital automotive ecosystem.
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Here are 1-3 brief analogies for CarGurus (CARG):
Zillow for cars
An eBay for new and used cars
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- Online Automotive Marketplace (for Buyers): A digital platform allowing consumers to search for and explore new and used car listings from various dealers.
- Private Party Car Selling Service: A service that enables individual consumers to list and sell their personal vehicles directly to buyers.
- Dealer Marketing and Listing Services: Provides automotive dealers with tools and exposure to list their inventory and connect with potential car buyers.
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CarGurus (CARG) primarily serves other companies, specifically **car dealerships**.
These dealerships, which include both new car franchises and independent used car lots, pay CarGurus for subscription services to list their inventory, generate leads, and connect with potential buyers on CarGurus' online marketplaces. Since these are generally local or regional businesses, they are not typically publicly traded companies, and therefore do not have stock symbols.
While consumers also use the platform to search for and buy cars, and in some cases to sell their own cars, the primary revenue stream for CarGurus is derived from the services provided to these automotive dealerships.
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- Amazon.com, Inc. (AMZN)
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Jason Trevisan, Chief Executive Officer
Jason Trevisan joined CarGurus in 2015 as Chief Financial Officer and was appointed Chief Executive Officer in January 2021. Prior to his tenure at CarGurus, he spent twelve years at Polaris Venture Partners, where he became a General Partner in 2010, focusing on growth equity investments and buyouts in the internet, technology, and healthcare sectors. He previously held management positions at aQuantive, which was later acquired by Microsoft, and worked as a consultant at Bain & Company. As CFO of CarGurus, he played a pivotal role in guiding the company through its initial public offering (IPO) in 2017.
Elisa Palazzo, Chief Financial Officer
Elisa Palazzo was appointed Chief Financial Officer of CarGurus, effective December 4, 2023. She brings nearly two decades of experience in operating, investing, and transaction roles, with a focus on consumer and business-to-business marketplaces. Before joining CarGurus, she served as Deputy CFO and Senior Vice President of Finance at Talkspace, an online behavioral health services marketplace. Her involvement with Talkspace began in 2021 as part of Hudson Executive Capital's participation, where she was previously a Managing Director overseeing investments in consumer, online, and digital media companies. Earlier in her career, she held senior technology investment roles at various asset management institutions and worked as an investment banker at Credit Suisse.
Sam Zales, President & Chief Operating Officer
Sam Zales joined CarGurus in 2014 and serves as President and Chief Operating Officer, overseeing the company's revenue, go-to-market functions, and international business. He also leads CarGurus' digital wholesale business, including the CarOffer platform, which the company fully acquired in 2023. Before CarGurus, Zales held executive management positions at several technology companies, including serving as Chief Executive Officer of ClickSquared, Inc., and executive leadership roles at ZoomInfo and Buyerzone.com.
Langley Steinert, Founder & Executive Chairman
Langley Steinert founded CarGurus in 2006 and served as its Chief Executive Officer until January 2021, when he transitioned to the role of Executive Chairman. Prior to establishing CarGurus, he co-founded and was Chairman of TripAdvisor, Inc., an online travel marketplace. His earlier experience includes management roles at Viaweb, which was sold to Yahoo! Inc., Papyrus, and Lotus Development Corp. He is also a co-founder and Chairman of the Board at ApartmentAdvisor.
Ismail Elshareef, Chief Product Officer
Ismail Elshareef joined CarGurus in February 2024 as Chief Product Officer. He brings over 20 years of experience in building, scaling, and re-imagining platforms to address customer and business needs. Before CarGurus, he held the position of Chief Product Officer for OneFootball, where he focused on refining strategy for growth objectives. Prior to that, he served as Chief Product Officer at UpKeep, leading product, engineering, and infrastructure. His career also includes leadership roles at Ticketmaster and Edmunds.com.
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The key risks to CarGurus' business (NASDAQ: CARG) are primarily centered around its reliance on its dealer network, intense competition in the online automotive marketplace, and vulnerability to macroeconomic fluctuations affecting the automotive industry.
- Dependence on Dealer Relationships and Intense Competition: CarGurus generates a substantial portion of its revenue from subscription fees paid by automotive dealers. Any termination of these agreements or consolidation among dealers could materially impact the company's financial performance. Furthermore, CarGurus operates in a highly competitive online automotive marketplace, contending with established players such as AutoTrader.com and Cars.com, as well as new online dealerships and AI-driven search engines. Maintaining its competitive edge necessitates continuous investment in product development and marketing to adapt to industry innovations and evolving consumer expectations.
- Sensitivity to Macroeconomic Factors and the Broader Automotive Industry: The automotive industry is inherently sensitive to prevailing economic conditions, including interest rates, inflation, and overall consumer confidence. A downturn in the broader economy or reduced credit availability can directly impact consumer demand for vehicles and dealer inventory levels, subsequently affecting CarGurus' business.
- Challenges and Wind-down in the Digital Wholesale Segment (CarOffer): CarGurus' CarOffer business segment has experienced a significant decline in revenue, leading to the company's decision to wind down its CarOffer transactions business. While CarGurus aims to continue providing AI-powered inventory intelligence, this transition is expected to incur expenditures and highlights ongoing challenges within this segment, posing a risk to future revenue and strategic focus.
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The emerging trend of automotive manufacturers (OEMs) increasingly shifting towards direct-to-consumer sales, particularly for electric vehicles, poses a clear threat. If OEMs bypass traditional dealerships to sell new cars directly to consumers, it could diminish the role of third-party marketplaces like CarGurus, which primarily connect consumers with dealer inventories. This shift could lead to fewer new car listings from dealerships on CarGurus' platforms and fundamentally alter the automotive retail landscape CarGurus operates within.
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CarGurus, Inc. (CARG) operates an online automotive marketplace for new and used cars and offers various software and data products to dealers in the United States, Canada, and the United Kingdom.
The addressable markets for CarGurus' main products and services in the specified regions are as follows:
- United States Online Automotive Marketplace (New and Used Cars): The addressable market for new and used car sales in the United States is substantial.
- The U.S. used car market size was valued at approximately USD 852.80 billion in 2025 and is estimated to grow to USD 871.30 billion in 2026.
- New vehicle sales in the U.S. are projected to reach 15.8 million units in 2026. With an average new-vehicle retail transaction price expected to be around $44,750 in August 2025, the estimated value of the new car market in 2026 would be approximately $707.05 billion.
- United States Dealer Software and Data Products: CarGurus is positioned to access an additional addressable market of approximately $4 billion spent by U.S. dealers on software and data products.
- Canada Used Car Market: The used car market in Canada is projected to reach USD 228,480.3 million by 2030.
- United Kingdom Online Automotive Marketplace: Specific market size figures for the overall online automotive marketplace or total new and used car market in the United Kingdom were not explicitly available in the provided information.
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CarGurus (CARG) is expected to drive future revenue growth over the next two to three years through several key initiatives:
- Accelerated Launch and Adoption of AI-Driven Products and Services: CarGurus plans an accelerated pace of introducing new AI-driven products for both dealers and consumers. These innovations, such as PriceVantage (an AI-powered inventory pricing tool), CG Discover (a conversational search tool for shoppers), and Dealership Mode (an app feature tailored for dealer lots), are designed to enhance dealer workflows and consumer decision-making. These new offerings are expected to create significant new revenue streams and increase engagement, with monetized dealer products launched in 2025 projected to grow 15x and achieve eight-figure revenue in 2026.
- Continued International Expansion: The company's international business has demonstrated robust growth, with a 27% year-over-year revenue increase in 2025. This growth is attributed to accelerated dealer acquisition, expansion of wallet share, and strong lead generation in these markets. CarGurus maintains a strategic focus on international market acceleration to further fuel revenue.
- Growth in Paying Dealers and Increased Quarterly Average Revenue per Subscribing Dealer (QARSD): CarGurus is focused on both expanding its base of paying dealers and increasing the revenue generated from existing dealers. This involves driving subscription upgrades and encouraging broader adoption of its add-on products. In 2025, consolidated QARSD grew 8% year-over-year, indicating success in extracting more value from its dealer network through new initiatives.
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Share Repurchases
- CarGurus authorized a new $250 million share repurchase program in February 2026.
- The company repurchased approximately $350 million of shares in 2025 under a prior authorization.
- Approximately 10.6% of shares were retired for $350.01 million under the previous authorization.
Share Issuance
- In March 2026, the Chief Product Officer was granted 58,574 restricted stock units (RSUs) as an equity award, vesting over time with no cash purchase price.
Outbound Investments
- CarGurus wound down its CarOffer wholesale business in the fourth quarter of 2025, resulting in $13.3 million in related expenditures.
- The company is refocusing on its core marketplace and international growth after ceasing CarOffer transactions.
Capital Expenditures
- In the 12 months prior to February 2026, capital expenditures were -$6.38 million.
- The company plans to invest in AI, technical development, international expansion, account management, and technology, which is expected to lead to a modest compression in adjusted EBITDA margins for 2026.
Peer Outperformance in Interactive Media & Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -16.1% | 30.6% | 44.8% | ECHO 258% · TMUS 45% · SHEN -61% |
| Publishing | 5 | 24.5% | -4.2% | 15.2% | NYT 57% · NWSA 41% · SCHL 15% |
| Integrated Telecommunication Services | 21 | -11.7% | 7.7% | -23.5% | IQST 1524% · GSAT 208% · AD 165% |
| Movies & Entertainment | 24 | -1.0% | 61.8% | -31.7% | IMAX 210% · MSGS 122% · BATRA 111% |
| Alternative Carriers | 4 | 32.6% | 13.7% | -42.1% | IRDM 13% · UNIT -40% · LUMN -44% |
| Advertising | 18 | -23.2% | -8.4% | -61.6% | APP 349% · EVC 50% · OMC 30% |
| Broadcasting | 14 | -11.5% | -13.3% | -69.2% | FOXA 87% · NXST 30% · WBD 4% |
| Interactive Media & Services ← | 30 | -33.3% | -33.4% | -71.2% | GOOGL 146% · META 86% · EVER 11% |
| Interactive Home Entertainment | 8 | -47.8% | -56.0% | -87.7% | TTWO 40% · RBLX -41% · PINS -66% |
Latest Trefis Analyses
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 130.38 |
| Mkt Cap | 7.1 |
| Rev LTM | 26,253 |
| Op Inc LTM | 1,238 |
| FCF LTM | 209 |
| FCF 3Y Avg | 158 |
| CFO LTM | 306 |
| CFO 3Y Avg | 223 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.6% |
| Rev Chg 3Y Avg | 3.8% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | 7.4% |
| Op Inc Chg 3Y Avg | 4.1% |
| Op Mgn LTM | 6.7% |
| Op Mgn 3Y Avg | 6.0% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 3.6% |
| CFO/Rev 3Y Avg | 4.3% |
| FCF/Rev LTM | 2.8% |
| FCF/Rev 3Y Avg | 3.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.1 |
| P/S | 0.7 |
| P/Op Inc | 9.5 |
| P/EBIT | 6.0 |
| P/E | 16.4 |
| P/CFO | 12.8 |
| Total Yield | 7.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.4% |
| D/E | 0.7 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.8% |
| 3M Rtn | 16.7% |
| 6M Rtn | 24.3% |
| 12M Rtn | -7.3% |
| 3Y Rtn | 35.2% |
| 1M Excs Rtn | -1.3% |
| 3M Excs Rtn | 11.6% |
| 6M Excs Rtn | 8.4% |
| 12M Excs Rtn | -21.5% |
| 3Y Excs Rtn | -30.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | 907 | 798 | 698 | ||
| Digital Wholesale | 996 | 314 | |||
| Other revenue | 45 | 42 | |||
| U.S. Marketplace | 614 | 595 | |||
| Total | 907 | 798 | 698 | 1,655 | 951 |
| $ Mil | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| U.S. Marketplace | 183 | 128 | 128 | 152 |
| Other revenue | 10 | 1 | -8 | -10 |
| Digital Wholesale | -179 | -96 | -12 | 7 |
| Total | 13 | 33 | 108 | 148 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | 662 | 825 | |||
| Digital Wholesale | 258 | 358 | 447 | ||
| Other revenue | 53 | 44 | 36 | ||
| U.S. Marketplace | 607 | 525 | 449 | ||
| Total | 662 | 825 | 919 | 927 | 932 |
Price Behavior
| Market Price | $34.70 | |
| Market Cap ($ Bil) | 3.1 | |
| First Trading Date | 10/12/2017 | |
| Distance from 52W High | -11.1% | |
| 50 Days | 200 Days | |
| DMA Price | $35.52 | $33.93 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -2.3% | 2.3% |
| 3M | 1YR | |
| Volatility | 39.3% | 38.8% |
| Downside Capture | 88.35 | 95.98 |
| Upside Capture | 170.70 | 74.60 |
| Correlation (SPY) | 18.9% | 18.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.66 | 0.78 | 0.38 | 0.17 | 0.56 | 1.12 |
| Up Beta | 0.39 | -1.56 | -0.22 | -0.74 | 0.03 | 1.03 |
| Down Beta | -2.13 | -0.73 | -0.17 | 0.05 | 0.30 | 1.10 |
| Up Capture | 222% | 207% | 125% | 61% | 69% | 169% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 21 | 35 | 67 | 126 | 391 |
| Down Capture | 386% | 219% | 43% | 51% | 95% | 104% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 21 | 29 | 60 | 124 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CARG | |
|---|---|---|---|---|
| CARG | -4.1% | 38.7% | -0.03 | - |
| Sector ETF (XLC) | -4.1% | 15.3% | -0.48 | 35.3% |
| Equity (SPY) | 15.1% | 12.8% | 0.82 | 18.3% |
| Gold (GLD) | 15.7% | 29.3% | 0.50 | -1.9% |
| Commodities (DBC) | 47.3% | 20.7% | 1.76 | -18.8% |
| Real Estate (VNQ) | 4.8% | 13.5% | 0.10 | 17.1% |
| Bitcoin (BTCUSD) | -34.6% | 43.9% | -0.84 | 18.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CARG | |
|---|---|---|---|---|
| CARG | 3.5% | 50.3% | 0.24 | - |
| Sector ETF (XLC) | 6.8% | 21.0% | 0.24 | 47.4% |
| Equity (SPY) | 12.3% | 17.2% | 0.54 | 48.2% |
| Gold (GLD) | 18.6% | 18.8% | 0.80 | 2.5% |
| Commodities (DBC) | 11.5% | 19.6% | 0.46 | 2.4% |
| Real Estate (VNQ) | 0.5% | 18.9% | -0.08 | 39.6% |
| Bitcoin (BTCUSD) | 10.4% | 52.5% | 0.38 | 23.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CARG | |
|---|---|---|---|---|
| CARG | 2.4% | 50.4% | 0.25 | - |
| Sector ETF (XLC) | 9.3% | 22.1% | 0.47 | 48.4% |
| Equity (SPY) | 15.0% | 18.0% | 0.71 | 48.5% |
| Gold (GLD) | 11.8% | 16.3% | 0.59 | 3.9% |
| Commodities (DBC) | 8.6% | 18.1% | 0.39 | 12.1% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 39.4% |
| Bitcoin (BTCUSD) | 62.0% | 66.1% | 1.02 | 16.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 7.2% | 4.3% | -7.3% |
| 5/7/2026 | -8.9% | -21.3% | -27.9% |
| 2/19/2026 | 3.3% | 6.2% | 15.1% |
| 11/6/2025 | 0.6% | 9.3% | 12.0% |
| 8/7/2025 | -7.3% | 1.1% | 14.4% |
| 5/8/2025 | 11.2% | 17.7% | 14.6% |
| 2/20/2025 | -17.1% | -18.2% | -19.9% |
| 11/7/2024 | 4.3% | 7.6% | 13.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 16 | 15 |
| # Negative | 9 | 8 | 9 |
| Median Positive | 6.4% | 7.9% | 14.4% |
| Median Negative | -7.9% | -15.9% | -14.5% |
| Max Positive | 44.0% | 35.3% | 28.3% |
| Max Negative | -25.5% | -21.3% | -27.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 7.2% | 4.3% | -7.3% |
| 5/7/2026 | -8.9% | -21.3% | -27.9% |
| 2/19/2026 | 3.3% | 6.2% | 15.1% |
| 11/6/2025 | 0.6% | 9.3% | 12.0% |
| 8/7/2025 | -7.3% | 1.1% | 14.4% |
| 5/8/2025 | 11.2% | 17.7% | 14.6% |
| 2/20/2025 | -17.1% | -18.2% | -19.9% |
| 11/7/2024 | 4.3% | 7.6% | 13.5% |
| 8/8/2024 | 20.3% | 26.0% | 21.4% |
| 5/9/2024 | 8.7% | 6.8% | 16.6% |
| 2/26/2024 | -1.5% | -4.0% | -3.0% |
| 11/7/2023 | 4.4% | 10.7% | 16.2% |
| 8/9/2023 | -6.1% | -7.1% | -4.6% |
| 5/9/2023 | 14.9% | 17.5% | 25.8% |
| 2/28/2023 | 6.4% | 1.1% | 5.3% |
| 11/8/2022 | -7.9% | 5.7% | -3.1% |
| 8/8/2022 | -25.5% | -20.7% | -26.6% |
| 5/9/2022 | -22.9% | -17.4% | -14.5% |
| 2/24/2022 | 44.0% | 35.3% | 28.3% |
| 11/9/2021 | 5.6% | 8.2% | 2.3% |
| 8/5/2021 | 6.2% | 4.9% | 2.1% |
| 5/6/2021 | 13.6% | 15.3% | 6.3% |
| 2/11/2021 | -7.5% | -14.3% | -27.3% |
| 11/5/2020 | 4.0% | -0.2% | 9.3% |
| SUMMARY STATS | |||
| # Positive | 15 | 16 | 15 |
| # Negative | 9 | 8 | 9 |
| Median Positive | 6.4% | 7.9% | 14.4% |
| Median Negative | -7.9% | -15.9% | -14.5% |
| Max Positive | 44.0% | 35.3% | 28.3% |
| Max Negative | -25.5% | -21.3% | -27.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/12/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/14/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
Recent Forward Guidance
Updated 8/7/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Total Revenue | Reported | 253.50 Mil | 256.00 Mil | 258.50 Mil | 2.6% | Higher New | Guidance: 249.50 Mil for Q2 2026 | |
| Q3 2026 Non-GAAP Adjusted EBITDA from continuing operations | Reported | 82.00 Mil | 86.00 Mil | 90.00 Mil | 5.5% | Higher New | Guidance: 81.50 Mil for Q2 2026 | |
| Q3 2026 Non-GAAP Earnings per Share from continuing operations | Reported | 0.63 | 0.66 | 0.69 | 9.1% | Higher New | Guidance: 0.6 for Q2 2026 | |
| 2026 Revenue change YoY | Reported | 0.1 | 0.12 | 0.13 | 0 | Affirmed | Guidance: 0.12 for 2026 | |
| 2026 Non-GAAP Adjusted EBITDA from continuing operations margin change YoY | Reported | -1.5% | -1.0% | -0.5% | 1.0% | Raised | Guidance: -2.0% for 2026 | |
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Total Revenue | Reported | 247.00 Mil | 249.50 Mil | 252.00 Mil | 2.7% | Higher New | Actual: 243.00 Mil for Q1 2026 | |
| Q2 2026 Non-GAAP Adjusted EBITDA from continuing operations | Reported | 77.50 Mil | 81.50 Mil | 85.50 Mil | 7.2% | Higher New | Actual: 76.00 Mil for Q1 2026 | |
| Q2 2026 Non-GAAP Earnings per Share from continuing operations | Reported | 0.57 | 0.6 | 0.64 | 10.0% | Higher New | Actual: 0.55 for Q1 2026 | |
| 2026 Revenue change YoY | Reported | 0.1 | 0.12 | 0.13 | 0.0% | Affirmed | Guidance: 0.12 for 2026 | |
| 2026 Non-GAAP Adjusted EBITDA from continuing operations margin change YoY | Reported | -2.5% | -2.0% | -1.5% | 0.0% | Affirmed | Guidance: -2.0% for 2026 | |
Q4 2025 Earnings Reported 2/19/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | Reported | 240.50 Mil | 243.00 Mil | 245.50 Mil | 1.9% | Higher New | Guidance: 238.50 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP Adjusted EBITDA | Reported | 72.00 Mil | 76.00 Mil | 80.00 Mil | -12.6% | Lower New | Guidance: 87.00 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP Earnings per Share | Reported | 0.52 | 0.55 | 0.58 | -14.1% | Lower New | Guidance: 0.64 for Q4 2025 | |
| 2026 Revenue Growth | Reported | 10.0% | 11.5% | 13.0% | ||||
| 2026 Non-GAAP Adjusted EBITDA margin change | Reported | -2.5% | -2.0% | -1.5% | -2.0% | |||
| 2026 Share Repurchases | Reported | 250.00 Mil | ||||||
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Marketplace Revenue | Reported | 236.00 Mil | 238.50 Mil | 241.00 Mil | ||||
| Q4 2025 Non-GAAP Marketplace Adjusted EBITDA | Reported | 83.00 Mil | 87.00 Mil | 91.00 Mil | ||||
| Q4 2025 Non-GAAP Earnings per Share | Reported | 0.61 | 0.64 | 0.67 | ||||
| 2025 Marketplace Revenue | Reported | 902.00 Mil | 904.50 Mil | 907.00 Mil | ||||
| 2025 Non-GAAP Marketplace Adjusted EBITDA | Reported | 313.00 Mil | 317.00 Mil | 321.00 Mil | ||||
| 2025 Non-GAAP Earnings per Share | Reported | 2.19 | 2.22 | 2.25 | ||||
Insider Activity
Updated 9/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Zales, Samuel | COO and President | Direct | Sell | 9172026 | 34.62 | 10,000 | 346,200 | 15,764,182 | Form |
| 2 | Zales, Samuel | COO and President | Direct | Sell | 8312026 | 36.50 | 10,000 | 365,000 | 16,985,238 | Form |
| 3 | Elshareef, Ismail | Chief Product Officer | Direct | Sell | 8182026 | 38.00 | 8,957 | 340,366 | 5,082,006 | Form |
| 4 | Sarnoff, Dafna | Chief Marketing Officer | Direct | Sell | 8142026 | 37.00 | 17,151 | 634,587 | 4,057,716 | Form |
| 5 | Schwartz, Greg M | Direct | Sell | 8142026 | 36.07 | 10,000 | 360,700 | 314,386 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Zales, Samuel | COO and President | Direct | Sell | 9172026 | 34.62 | 10,000 | 346,200 | 15,764,182 | Form |
| 2 | Zales, Samuel | COO and President | Direct | Sell | 8312026 | 36.50 | 10,000 | 365,000 | 16,985,238 | Form |
| 3 | Elshareef, Ismail | Chief Product Officer | Direct | Sell | 8182026 | 38.00 | 8,957 | 340,366 | 5,082,006 | Form |
| 4 | Sarnoff, Dafna | Chief Marketing Officer | Direct | Sell | 8142026 | 37.00 | 17,151 | 634,587 | 4,057,716 | Form |
| 5 | Schwartz, Greg M | Direct | Sell | 8142026 | 36.07 | 10,000 | 360,700 | 314,386 | Form | |
| 6 | Trevisan, Jason | Chief Executive Officer | Direct | Sell | 8112026 | 41.06 | 1,100 | 45,166 | 27,705,728 | Form |
| 7 | Zamora, Javier | General Counsel and Secretary | Direct | Sell | 8042026 | 37.08 | 6,205 | 230,081 | 2,976,041 | Form |
| 8 | Zamora, Javier | General Counsel and Secretary | Direct | Sell | 7062026 | 36.06 | 3,533 | 127,400 | 3,185,721 | Form |
| 9 | Quinn, Matthew Todd | Chief Technology Officer | Direct | Sell | 7062026 | 35.03 | 3,824 | 133,955 | 8,167,104 | Form |
| 10 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 7062026 | 35.03 | 567 | 19,862 | 3,192,459 | Form |
| 11 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 7022026 | 34.56 | 2,499 | 86,365 | 3,210,417 | Form |
| 12 | Zamora, Javier | General Counsel and Secretary | Direct | Sell | 7012026 | 34.08 | 3,532 | 120,371 | 3,271,578 | Form |
| 13 | Zamora, Javier | General Counsel and Secretary | Direct | Sell | 6292026 | 32.63 | 3,532 | 115,253 | 3,247,733 | Form |
| 14 | Zamora, Javier | General Counsel and Secretary | Direct | Sell | 6032026 | 29.53 | 8,072 | 238,396 | 3,043,775 | Form |
| 15 | Sarnoff, Dafna | Chief Marketing Officer | Direct | Sell | 4062026 | 33.04 | 5,445 | 179,903 | 4,439,552 | Form |
| 16 | Quinn, Matthew Todd | Chief Technology Officer | Direct | Sell | 4062026 | 33.04 | 4,341 | 143,427 | 8,131,078 | Form |
| 17 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 4062026 | 33.04 | 567 | 18,734 | 3,186,113 | Form |
| 18 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 4022026 | 35.61 | 2,499 | 88,989 | 3,496,582 | Form |
| 19 | Kaufer, Stephen | Direct | Buy | 3042026 | 32.50 | 30,766 | 1,000,034 | 10,529,446 | Form | |
| 20 | Elshareef, Ismail | Chief Product Officer | Direct | Sell | 2032026 | 32.21 | 1,645 | 52,985 | 2,957,587 | Form |
| 21 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 1062026 | 37.36 | 524 | 19,577 | 1,855,410 | Form |
| 22 | Sarnoff, Dafna | Chief Marketing Officer | Direct | Sell | 1062026 | 37.36 | 5,190 | 193,898 | 3,369,723 | Form |
| 23 | Quinn, Matthew Todd | Chief Technology Officer | Direct | Sell | 1062026 | 37.36 | 5,056 | 188,892 | 7,254,677 | Form |
| 24 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 1052026 | 38.10 | 2,358 | 89,840 | 1,922,755 | Form |
| 25 | Trevisan, Jason | Chief Executive Officer | Direct | Sell | 12292025 | 39.02 | 16,548 | 645,703 | 24,601,447 | Form |
| 26 | Trevisan, Jason | Chief Executive Officer | Direct | Sell | 12292025 | 39.04 | 8,452 | 329,966 | 25,260,090 | Form |
| 27 | Zales, Samuel | COO and President | Direct | Sell | 12172025 | 38.39 | 10,000 | 383,900 | 15,365,943 | Form |
| 28 | Trevisan, Jason | Chief Executive Officer | Direct | Sell | 12102025 | 37.00 | 20,000 | 740,000 | 24,252,871 | Form |
| 29 | Sarnoff, Dafna | Chief Marketing Officer | Direct | Sell | 12032025 | 35.68 | 1,346 | 48,025 | 3,558,259 | Form |
| 30 | Trevisan, Jason | Chief Executive Officer | Direct | Sell | 11122025 | 35.00 | 15,000 | 525,000 | 23,641,905 | Form |
| 31 | Schwartz, Greg M | Direct | Sell | 11122025 | 35.06 | 5,000 | 175,300 | 398,878 | Form | |
| 32 | Zales, Samuel | COO and President | Direct | Sell | 11042025 | 34.98 | 10,000 | 349,800 | 14,350,860 | Form |
| 33 | Elshareef, Ismail | Chief Product Officer | Direct | Sell | 11042025 | 34.98 | 1,228 | 42,955 | 3,354,827 | Form |
| 34 | Zales, Samuel | COO and President | Direct | Sell | 10172025 | 34.92 | 10,000 | 349,200 | 14,675,444 | Form |
| 35 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 10032025 | 37.70 | 567 | 21,376 | 2,035,951 | Form |
| 36 | Quinn, Matthew Todd | Chief Technology Officer | Direct | Sell | 10032025 | 37.70 | 3,789 | 142,845 | 7,714,589 | Form |
| 37 | Sarnoff, Dafna | Chief Marketing Officer | Direct | Sell | 10032025 | 37.70 | 4,167 | 157,096 | 3,863,496 | Form |
| 38 | Hanson, Jennifer Ladd | Chief People Officer | Direct | Sell | 10022025 | 36.88 | 9,998 | 368,726 | 2,021,282 | Form |
| 39 | Zales, Samuel | COO and President | Direct | Sell | 9182025 | 36.08 | 10,000 | 360,800 | 15,940,902 | Form |
| 40 | Sarnoff, Dafna | Chief Marketing Officer | Direct | Sell | 9032025 | 34.05 | 1,346 | 45,831 | 3,828,276 | Form |
Investor Activity (13F)
Updated Sep 17, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Prevatt Capital Ltd | $84.3 Mil | 22.7% | 11 | ADD +12.5% | 13F |
| Alta Fox Capital Management, LLC | $54.0 Mil | 14.3% | 9 | ADD +24.6% | 13F |
| Breach Inlet Capital Management, LLC | $10.1 Mil | 3.3% | 12 | New | 13F |
| Broad Bay Capital Management, LP | $24.6 Mil | 2.5% | 24 | New | 13F |
| Goodnow Investment Group, LLC | $5.9 Mil | 0.6% | 29 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Prevatt Capital Ltd | $84.3 Mil | 22.7% | 11 | ADD +12.5% | 13F |
| Alta Fox Capital Management, LLC | $54.0 Mil | 14.3% | 9 | ADD +24.6% | 13F |
| Broad Bay Capital Management, LP | $24.6 Mil | 2.5% | 24 | New | 13F |
| Breach Inlet Capital Management, LLC | $10.1 Mil | 3.3% | 12 | New | 13F |
| Goodnow Investment Group, LLC | $5.9 Mil | 0.6% | 29 | Hold | 13F |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Interactive Media & Services Resources |
| Social Media Today |
| Search Engine Land |
| Nieman Journalism Lab |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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