CarGurus, Inc. (NASDAQ:CARG) CMO Sells $123,562.38 in Stock

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 4,127 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the transaction, the chief marketing officer now owns 119,330 shares of the company’s stock, valued at approximately $3,572,740.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Dafna Sarnoff also recently made the following trade(s):

• On Tuesday, September 3rd, Dafna Sarnoff sold 3,107 shares of CarGurus stock. The shares were sold at an average price of $28.42, for a total value of $88,300.94.

CarGurus Stock Down 0.8 %

Shares of CARG stock traded down $0.24 during trading hours on Thursday, hitting $29.05. 380,697 shares of the company’s stock were exchanged, compared to its average volume of 868,092. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $30.99. The firm has a market cap of $3.03 billion, a P/E ratio of 104.61, a P/E/G ratio of 1.45 and a beta of 1.56. The firm has a 50 day moving average of $27.60 and a two-hundred day moving average of $25.30.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $218.69 million during the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. On average, equities analysts forecast that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CARG. Vanguard Group Inc. increased its stake in CarGurus by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after buying an additional 107,244 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of CarGurus by 39.6% in the fourth quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock worth $137,856,000 after acquiring an additional 1,619,076 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of CarGurus by 6.5% during the second quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock worth $38,282,000 after purchasing an additional 89,346 shares in the last quarter. Select Equity Group L.P. raised its stake in CarGurus by 2.8% in the 2nd quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock valued at $30,017,000 after purchasing an additional 31,431 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in CarGurus by 26.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after purchasing an additional 228,380 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. B. Riley upped their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. DA Davidson reiterated a “neutral” rating and issued a $26.50 price objective on shares of CarGurus in a research note on Tuesday, September 10th. Citigroup boosted their target price on shares of CarGurus from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price target on shares of CarGurus in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.35.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.