Dafna Sarnoff Sells 3,107 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CarGurus Stock Up 0.6 %

CarGurus stock traded up $0.18 during mid-day trading on Wednesday, hitting $28.08. 775,883 shares of the company’s stock were exchanged, compared to its average volume of 888,196. The company’s 50 day simple moving average is $26.17 and its 200-day simple moving average is $24.43. The firm has a market capitalization of $2.93 billion, a P/E ratio of 100.29, a PEG ratio of 1.41 and a beta of 1.57. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $29.40.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $214.85 million. Research analysts expect that CarGurus, Inc. will post 1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

CARG has been the subject of several recent research reports. Oppenheimer boosted their price objective on CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Needham & Company LLC increased their price objective on shares of CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 9th. DA Davidson raised their price objective on shares of CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, May 13th. Royal Bank of Canada upped their target price on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, JMP Securities raised their price target on CarGurus from $30.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of CarGurus by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after acquiring an additional 107,244 shares during the period. Wellington Management Group LLP raised its position in CarGurus by 39.6% in the 4th quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock valued at $137,856,000 after buying an additional 1,619,076 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CarGurus by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,208,420 shares of the company’s stock valued at $53,357,000 after acquiring an additional 126,216 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in CarGurus by 6.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock valued at $38,282,000 after acquiring an additional 89,346 shares in the last quarter. Finally, Select Equity Group L.P. boosted its position in CarGurus by 2.8% during the 2nd quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock worth $30,017,000 after acquiring an additional 31,431 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

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.