CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff Sells 10,570 Shares

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 10,570 shares of CarGurus stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the transaction, the chief marketing officer now directly owns 95,261 shares in the company, valued at approximately $3,408,438.58. This represents a 9.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

CarGurus Stock Performance

Shares of CarGurus stock opened at $36.76 on Wednesday. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $39.10. The stock has a 50 day moving average price of $36.12 and a two-hundred day moving average price of $30.71. The stock has a market capitalization of $3.81 billion, a PE ratio of -79.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58.

Institutional Trading of CarGurus

Hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB grew its holdings in shares of CarGurus by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 313,474 shares of the company’s stock valued at $11,711,000 after buying an additional 12,899 shares during the last quarter. GAMMA Investing LLC boosted its stake in CarGurus by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 3,099 shares of the company’s stock valued at $113,000 after purchasing an additional 640 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in CarGurus by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company’s stock worth $12,127,000 after purchasing an additional 9,744 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of CarGurus by 1.4% in the third quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock worth $13,514,000 after purchasing an additional 6,186 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of CarGurus by 0.8% in the third quarter. Franklin Resources Inc. now owns 261,890 shares of the company’s stock worth $8,150,000 after purchasing an additional 2,051 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. DA Davidson boosted their target price on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th. BTIG Research increased their price target on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.86.

About CarGurus

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.