CarGurus (NASDAQ:CARG) CMO Dafna Sarnoff Sells 7,234 Shares of Stock

Key Points

• CarGurus CMO Dafna Sarnoff sold 7,234 shares at an average price of $29.62, generating $214,271.08. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced her direct holdings by 7.08%.
• CarGurus shares fell 2.2% to $29.35, near the lower end of their 52-week range. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.66 in EPS and $250.97 million in revenue.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $40.75, while institutional investors own approximately 86.9% of the stock.

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CMO Dafna Sarnoff sold 7,234 shares of CarGurus stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.62, for a total value of $214,271.08. Following the transaction, the chief marketing officer directly owned 94,884 shares in the company, valued at approximately $2,810,464.08. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Dafna Sarnoff also recently made the following trade(s):

• On Thursday, August 13th, Dafna Sarnoff sold 17,151 shares of CarGurus stock. The stock was sold at an average price of $37.00, for a total transaction of $634,587.00.

CarGurus Trading Down 2.2%

NASDAQ CARG traded down $0.67 on Monday, reaching $29.35. 2,138,602 shares of the stock were exchanged, compared to its average volume of 1,247,572. CarGurus, Inc. has a one year low of $26.39 and a one year high of $41.22. The firm has a market capitalization of $2.61 billion, a PE ratio of 15.95, a PEG ratio of 1.07 and a beta of 1.22. The company's 50-day simple moving average is $34.80 and its two-hundred day simple moving average is $33.61.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.05. The business had revenue of $250.97 million during the quarter, compared to analyst estimates of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The company's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. Sell-side analysts forecast that CarGurus, Inc. will post 2.17 earnings per share for the current fiscal year.

Institutional Trading of CarGurus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in CarGurus by 20.2% in the 3rd quarter. Versant Capital Management Inc now owns 2,325 shares of the company's stock worth $72,000 after purchasing an additional 391 shares in the last quarter. Tidal Investments LLC grew its position in shares of CarGurus by 16.0% during the second quarter. Tidal Investments LLC now owns 61,437 shares of the company's stock valued at $2,094,000 after purchasing an additional 8,468 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of CarGurus in the second quarter worth about $1,421,000. Squarepoint Ops LLC bought a new stake in shares of CarGurus in the second quarter worth about $288,000. Finally, Nykredit A S purchased a new stake in shares of CarGurus in the second quarter worth about $183,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CARG has been the subject of a number of analyst reports. BTIG Research increased their price target on CarGurus from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wall Street Zen downgraded CarGurus from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group upped their price objective on CarGurus from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. B. Riley Financial reiterated a "buy" rating on shares of CarGurus in a research report on Friday, August 7th. Finally, Needham & Company LLC lifted their target price on CarGurus from $43.00 to $44.00 and gave the company a "buy" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.75.

CarGurus Company Profile

CarGurus, Inc is a digital automotive marketplace that connects consumers with dealerships and private sellers offering new and used vehicles. Its platform enables shoppers to search vehicle listings, compare prices and features, review dealership information, and evaluate vehicle deals using data-driven tools. CarGurus generates revenue primarily by providing automotive dealers with listing, advertising, and other digital marketing services.

The company also offers products designed to help dealers attract shoppers, manage vehicle listings, and support the online and in-person vehicle-buying process.

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