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

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 4,127 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total transaction of $123,562.38. Following the transaction, the chief marketing officer now owns 119,330 shares of the company’s stock, valued at approximately $3,572,740.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 transaction of $88,300.94.

CarGurus Trading Up 0.8 %

NASDAQ:CARG opened at $29.29 on Friday. The company has a market capitalization of $3.05 billion, a P/E ratio of 104.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56. The firm has a 50-day moving average price of $27.76 and a two-hundred day moving average price of $25.38. CarGurus, Inc. has a twelve month low of $16.70 and a twelve month high of $30.99.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results 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. 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, equities research analysts predict that CarGurus, Inc. will post 1.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on CARG. Citigroup boosted their target price on CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. B. Riley upped their price objective on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JMP Securities reissued a “market outperform” rating and issued a $32.00 target price on shares of CarGurus in a report on Monday, September 9th. DA Davidson reaffirmed a “neutral” rating and set a $26.50 price target on shares of CarGurus in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada increased their price target on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of CarGurus by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after buying an additional 107,244 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 acquiring an additional 1,619,076 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of CarGurus by 6.5% during the 2nd 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 during the period. Select Equity Group L.P. boosted its holdings in shares of CarGurus by 2.8% during the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock worth $30,017,000 after purchasing an additional 31,431 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of CarGurus by 26.5% in the second 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 during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.