Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CMO Sells 10,570 Shares of Stock

CarGurus, Inc. (NASDAQ:CARGGet Free Report) CMO Dafna Sarnoff sold 10,570 shares of the company’s 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 transaction, the chief marketing officer now directly owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. The trade was a 9.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $37.11 on Thursday. The firm has a market capitalization of $3.85 billion, a PE ratio of -80.67, a P/E/G 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 business’s fifty day moving average price is $36.12 and its two-hundred day moving average price is $30.71.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CARG shares. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. DA Davidson upped their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC increased their price objective on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group increased their target price on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.86.

View Our Latest Analysis on CarGurus

Institutional Trading of CarGurus

Hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus in the third quarter valued at approximately $28,000. Signaturefd LLC grew its holdings in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in CarGurus during the 3rd quarter valued at $30,000. Quarry LP boosted its position in CarGurus by 155.8% during the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of CarGurus by 19.0% in the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

About CarGurus

(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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Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)

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