CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff Sells 4,127 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 4,127 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at $3,572,740.20. The sale was disclosed in a document filed with the SEC, which is accessible 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 Price Performance

Shares of NASDAQ CARG opened at $29.05 on Friday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 103.75, a PEG ratio of 1.45 and a beta of 1.56. The business has a 50-day moving average of $27.68 and a 200-day moving average of $25.32. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $30.99.

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

Hedge Funds Weigh In On CarGurus

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in shares of CarGurus by 39.6% during 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 period. Marshall Wace LLP boosted its holdings in shares of CarGurus by 3,512.4% during the second quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock worth $12,585,000 after acquiring an additional 467,042 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of CarGurus by 26.5% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after acquiring an additional 228,380 shares during the period. SG Capital Management LLC bought a new stake in shares of CarGurus during the first quarter worth approximately $4,222,000. Finally, Edgestream Partners L.P. bought a new stake in shares of CarGurus during the first quarter worth approximately $3,978,000. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup increased their price target on CarGurus from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. increased their price target on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. DA Davidson reissued a “neutral” rating and issued a $26.50 price target on shares of CarGurus in a research note on Tuesday, September 10th. BTIG Research increased their price target on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of CarGurus in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.35.

CarGurus Company Profile

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.