CarGurus, Inc. (NASDAQ:CARG) CMO Sells $137,919.12 in Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CMO Dafna Sarnoff sold 4,168 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total transaction of $137,919.12. Following the completion of the sale, the chief marketing officer directly owned 115,183 shares in the company, valued at $3,811,405.47. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CarGurus Stock Performance

NASDAQ CARG traded up $0.03 during trading on Friday, reaching $33.68. 410,699 shares of the company's stock were exchanged, compared to its average volume of 868,761. The company has a 50 day moving average price of $31.41 and a two-hundred day moving average price of $32.87. The stock has a market cap of $3.52 billion, a P/E ratio of 96.22, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. The firm's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. Research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On CarGurus

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in shares of CarGurus by 340.5% during the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock worth $46,808,000 after purchasing an additional 1,242,076 shares during the last quarter. American Century Companies Inc. boosted its position in shares of CarGurus by 547.9% in the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock valued at $40,734,000 after purchasing an additional 1,182,499 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after buying an additional 957,035 shares during the last quarter. Wellington Management Group LLP increased its position in CarGurus by 12.7% during the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock worth $234,560,000 after buying an additional 906,830 shares during the period. Finally, Boston Partners lifted its stake in CarGurus by 1,641.2% in the first quarter. Boston Partners now owns 878,556 shares of the company's stock valued at $25,363,000 after buying an additional 828,099 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Needham & Company LLC cut their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. JMP Securities reaffirmed a "market perform" rating and issued a $38.00 price objective on shares of CarGurus in a research note on Wednesday. Citizens Jmp lowered CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday. UBS Group raised their target price on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Citigroup reduced their target price on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $37.86.

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.