CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff Sells 10,570 Shares

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 10,570 shares of CarGurus stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

CarGurus Trading Up 3.2 %

Shares of NASDAQ CARG traded up $1.13 during trading on Monday, reaching $36.95. The company had a trading volume of 589,727 shares, compared to its average volume of 605,499. The stock has a market capitalization of $3.83 billion, a PE ratio of -80.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The stock has a 50-day moving average price of $35.90 and a two-hundred day moving average price of $30.50.

Wall Street Analysts Forecast Growth

CARG has been the subject of several recent analyst reports. Oppenheimer lifted their price objective on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Needham & Company LLC increased their price objective on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley raised their price target on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Finally, DA Davidson increased their target price on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus in the third quarter valued at $28,000. Signaturefd LLC raised its position in CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in CarGurus during the 3rd quarter worth approximately $30,000. Quarry LP lifted its position in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 913 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after buying an additional 393 shares in the last quarter. 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.