Dafna Sarnoff Sells 17,151 Shares of CarGurus (NASDAQ:CARG) Stock

Key Points

• CarGurus CMO Dafna Sarnoff sold 17,151 shares at an average price of $37, generating $634,587; the transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced her ownership by 13.52%.
• CarGurus exceeded quarterly expectations, reporting $0.66 in EPS versus $0.61 estimated and $250.97 million in revenue. Revenue increased 7.2% year over year, and the company issued third-quarter EPS guidance of $0.63–$0.69.
• The stock traded near $37.37, while analysts maintained a “Moderate Buy” consensus with an average price target of $40.75; institutional investors own 86.9% of the company.

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CMO Dafna Sarnoff sold 17,151 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $37.00, for a total value of $634,587.00. Following the completion of the sale, the chief marketing officer owned 109,668 shares in the company, valued at $4,057,716. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Price Performance

NASDAQ:CARG traded down $0.57 on Friday, reaching $37.37. 725,204 shares of the company's stock were exchanged, compared to its average volume of 1,279,771. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.36 and a beta of 1.17. The stock has a fifty day simple moving average of $33.56 and a 200-day simple moving average of $32.73. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $41.22.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. The company had revenue of $250.97 million for the quarter, compared to analysts' expectations of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. CarGurus's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. As a group, sell-side analysts predict that CarGurus, Inc. will post 2.09 EPS for the current year.

Institutional Trading of CarGurus

Several institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new position in shares of CarGurus during the third quarter worth about $46,000. Torren Management LLC purchased a new stake in CarGurus in the fourth quarter valued at approximately $49,000. EverSource Wealth Advisors LLC raised its stake in CarGurus by 491.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company's stock valued at $55,000 after purchasing an additional 1,362 shares in the last quarter. Clearstead Advisors LLC lifted its position in CarGurus by 321.2% during the fourth quarter. Clearstead Advisors LLC now owns 2,127 shares of the company's stock valued at $82,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in CarGurus by 356.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company's stock valued at $83,000 after purchasing an additional 1,697 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

CARG has been the subject of several recent research reports. Barclays lifted their price target on CarGurus from $40.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday. Wall Street Zen downgraded CarGurus from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. UBS Group lifted their target price on CarGurus from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, August 7th. BTIG Research raised their price objective on shares of CarGurus from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Piper Sandler reaffirmed a "sector weight" rating on shares of CarGurus in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.75.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company's core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.

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