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

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CMO Dafna Sarnoff sold 10,570 shares of the company's stock in a transaction 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 sale, the chief marketing officer now owns 95,261 shares of the company's stock, valued at $3,408,438.58. This represents a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CarGurus Stock Performance

NASDAQ:CARG traded up $1.13 during mid-day trading on Monday, hitting $36.95. 589,727 shares of the company's stock traded hands, compared to its average volume of 618,276. The company has a fifty day moving average of $36.01 and a 200 day moving average of $30.62. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The company has a market capitalization of $3.83 billion, a P/E ratio of -80.32, a P/E/G ratio of 2.00 and a beta of 1.58.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Citigroup raised CarGurus from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Jefferies Financial Group boosted their price target on CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. BTIG Research boosted their price target on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.86.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its position in CarGurus by 4.3% during the 4th 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 in the last quarter. GAMMA Investing LLC grew 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. grew its stake in CarGurus by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company's stock valued at $12,127,000 after purchasing an additional 9,744 shares during the last quarter. Principal Financial Group Inc. grew its stake in CarGurus by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 450,015 shares of the company's stock valued at $13,514,000 after purchasing an additional 6,186 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in CarGurus by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 261,890 shares of the company's stock valued at $8,150,000 after purchasing an additional 2,051 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.