CARG CarGurus, Inc.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q1 2026: $183M, Q3 2025: $4M, Q2 2025: $65M, Q1 2025: $77M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $183M vs trailing avg $49M (+275%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-241M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Missing shares repurchased or outstanding data

Are officers and directors buying stock with their own money on the open market?

1 open-market purchase by Kaufer Stephen

• Kaufer Stephen () bought 30,766 shares at $32.50 on 2026-03-03

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters but insufficient insider buying

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $1M, sold $1M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 17.3x more than bought. 7 C-suite officers among sellers

• Sarnoff Dafna (Chief Marketing Officer) sold 5,445 shares on 2026-04-02
• Quinn Matthew Todd (Chief Technology Officer) sold 4,341 shares on 2026-04-02
• Hanson Jennifer Ladd (Chief People Officer) sold 567 shares on 2026-04-02
• Hanson Jennifer Ladd (Chief People Officer) sold 2,499 shares on 2026-03-31
• Elshareef Ismail (Chief Product Officer) sold 1,645 shares on 2026-02-02
• Hanson Jennifer Ladd (Chief People Officer) sold 524 shares on 2026-01-05
• Sarnoff Dafna (Chief Marketing Officer) sold 5,190 shares on 2026-01-05
• Quinn Matthew Todd (Chief Technology Officer) sold 5,056 shares on 2026-01-05
• Hanson Jennifer Ladd (Chief People Officer) sold 2,358 shares on 2025-12-31
• Trevisan Jason (Chief Executive Officer) sold 8,452 shares on 2025-12-22