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

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 4,127 shares of the stock in a transaction that occurred 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 sale, the chief marketing officer now directly owns 119,330 shares of the company’s stock, valued at approximately $3,572,740.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $28.42, for a total value of $88,300.94.

CarGurus Stock Down 0.8 %

NASDAQ:CARG traded down $0.24 on Thursday, reaching $29.05. 380,697 shares of the company’s stock were exchanged, compared to its average volume of 868,092. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 104.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56. CarGurus, Inc. has a 52-week low of $16.70 and a 52-week high of $30.99. The business has a fifty day moving average of $27.60 and a 200-day moving average of $25.30.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The firm had revenue of $218.69 million for the quarter, compared to the consensus estimate of $214.85 million. As a group, equities analysts anticipate that CarGurus, Inc. will post 1.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its holdings in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares during the period. Nisa Investment Advisors LLC grew its position in shares of CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after buying an additional 479 shares in the last quarter. Headlands Technologies LLC acquired a new stake in CarGurus in the first quarter valued at approximately $49,000. GAMMA Investing LLC lifted its stake in CarGurus by 25.9% in the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after acquiring an additional 425 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in CarGurus during the 2nd quarter worth approximately $87,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC upped their price objective on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup upped 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. BTIG Research raised their price objective on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada increased their target price on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.