CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CMO Dafna Sarnoff sold 4,301 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the sale, the chief marketing officer now directly owns 163,798 shares in the company, valued at $3,773,905.92. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $238,526.88.
CarGurus Price Performance
CARG opened at $22.73 on Thursday. CarGurus, Inc. has a fifty-two week low of $15.34 and a fifty-two week high of $24.64. The business has a 50-day moving average of $23.14 and a 200-day moving average of $21.39. The company has a market capitalization of $2.44 billion, a PE ratio of 126.28, a price-to-earnings-growth ratio of 1.40 and a beta of 1.58.
CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The firm's revenue was down 22.2% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, equities research analysts expect that CarGurus, Inc. will post 0.94 earnings per share for the current fiscal year.
Institutional Trading of CarGurus
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in CarGurus by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 386,912 shares of the company's stock valued at $16,428,000 after buying an additional 23,382 shares in the last quarter. Bank of Montreal Can acquired a new stake in CarGurus in the 1st quarter valued at $880,000. MetLife Investment Management LLC boosted its stake in CarGurus by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 50,963 shares of the company's stock valued at $2,164,000 after buying an additional 17,932 shares in the last quarter. Rhumbline Advisers raised its position in CarGurus by 1.4% in the 1st quarter. Rhumbline Advisers now owns 97,944 shares of the company's stock valued at $4,159,000 after purchasing an additional 1,325 shares during the last quarter. Finally, APG Asset Management N.V. bought a new position in CarGurus in the 1st quarter valued at $431,000. Institutional investors and hedge funds own 86.90% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on CARG shares. UBS Group raised their price target on CarGurus from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, March 15th. Needham & Company LLC raised their price target on CarGurus from $22.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. Finally, Oppenheimer raised their price target on CarGurus from $26.00 to $30.00 and gave the company an "outperform" rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.
View Our Latest Research Report on CARG
About CarGurus
(
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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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