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

CarGurus, Inc. (NASDAQ:CARGGet Free Report) CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.04, for a total transaction of $99,095.04. Following the sale, the chief marketing officer now directly owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 transaction of $238,526.88.

CarGurus Price Performance

NASDAQ CARG opened at $22.73 on Thursday. CarGurus, Inc. has a 1 year low of $15.34 and a 1 year high of $24.64. The stock has a market capitalization of $2.44 billion, a PE ratio of 126.28, a P/E/G ratio of 1.40 and a beta of 1.58. The company’s 50 day simple moving average is $23.14 and its two-hundred day simple moving average is $21.39.

CarGurus (NASDAQ:CARGGet Free Report) last posted its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. On average, research analysts anticipate that CarGurus, Inc. will post 0.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Needham & Company LLC boosted their target price on shares of CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Oppenheimer boosted their target price on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, CarGurus has an average rating of “Moderate Buy” and an average target price of $24.90.

Read Our Latest Report on CarGurus

Institutional Investors Weigh In On CarGurus

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of CarGurus by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 386,912 shares of the company’s stock worth $16,428,000 after buying an additional 23,382 shares in the last quarter. Bank of Montreal Can bought a new position in shares of CarGurus in the first quarter worth approximately $880,000. MetLife Investment Management LLC lifted its stake in shares of CarGurus by 54.3% in the first quarter. MetLife Investment Management LLC now owns 50,963 shares of the company’s stock worth $2,164,000 after buying an additional 17,932 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of CarGurus by 1.4% in the first quarter. Rhumbline Advisers now owns 97,944 shares of the company’s stock worth $4,159,000 after buying an additional 1,325 shares in the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of CarGurus in the first quarter worth approximately $431,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

(Get Free Report)

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.

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