CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff Sells 4,301 Shares

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CMO Dafna Sarnoff sold 4,301 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.04, for a total transaction of $99,095.04. Following the sale, the chief marketing officer now owns 163,798 shares of the company's stock, valued at $3,773,905.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, March 18th, Dafna Sarnoff sold 10,573 shares of CarGurus stock. The stock was sold at an average price of $22.56, for a total value of $238,526.88.

CarGurus Trading Up 0.6 %

CarGurus stock traded up $0.13 during mid-day trading on Wednesday, hitting $22.73. The stock had a trading volume of 776,716 shares, compared to its average volume of 1,066,466. The firm has a market capitalization of $2.44 billion, a P/E ratio of 126.28, a P/E/G ratio of 1.40 and a beta of 1.58. The firm's 50 day moving average is $23.14 and its 200 day moving average is $21.39. CarGurus, Inc. has a one year low of $15.34 and a one year high of $24.64.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The company had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. During the same quarter in the prior year, the firm posted $0.25 EPS. CarGurus's quarterly revenue was down 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in shares of CarGurus by 20.3% during the 4th quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company's stock valued at $48,164,000 after purchasing an additional 336,245 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of CarGurus by 42.0% in the 4th quarter. Nordea Investment Management AB now owns 309,651 shares of the company's stock valued at $7,503,000 after acquiring an additional 91,626 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of CarGurus in the 3rd quarter valued at about $1,586,000. Dark Forest Capital Management LP bought a new position in shares of CarGurus in the 3rd quarter valued at about $1,301,000. Finally, Landscape Capital Management L.L.C. lifted its holdings in shares of CarGurus by 531.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 117,746 shares of the company's stock valued at $2,063,000 after acquiring an additional 99,103 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Needham & Company LLC upped their price objective on CarGurus from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Oppenheimer upped their price objective on CarGurus from $26.00 to $30.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 27th. Finally, UBS Group upped their price objective on CarGurus from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, March 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.90.

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.