Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CMO Sells $378,194.60 in Stock

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the sale, the chief marketing officer now directly owns 95,261 shares in the company, valued at approximately $3,408,438.58. The trade was a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

CarGurus Stock Performance

CARG opened at $37.11 on Thursday. The company has a market cap of $3.85 billion, a PE ratio of -80.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $39.10. The firm has a 50 day moving average price of $36.12 and a 200 day moving average price of $30.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC upped their target price on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. DA Davidson raised their price target on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group upped their price objective on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

Hedge Funds Weigh In On CarGurus

A number of hedge funds have recently made changes to their positions in CARG. Point72 Hong Kong Ltd purchased a new stake in CarGurus during the 3rd quarter worth $28,000. Signaturefd LLC boosted its position in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CarGurus in the third quarter valued at about $30,000. Quarry LP raised its holdings in shares of CarGurus by 155.8% during the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after buying an additional 913 shares during the period. Finally, GAMMA Investing LLC lifted its position in CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after acquiring an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.