CarGurus (NASDAQ:CARG) CMO Sells $634,587.00 in Stock

CarGurus, Inc. (NASDAQ:CARG) CMO Dafna Sarnoff sold 17,151 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $37.00, for a total transaction of $634,587.00. Following the completion of the transaction, the chief marketing officer owned 109,668 shares of the company’s stock, valued at $4,057,716. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Stock Performance

Shares of CARG opened at $37.44 on Monday. The firm’s 50-day moving average price is $33.76 and its 200-day moving average price is $32.76. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.36 and a beta of 1.17. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $41.22.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The company had revenue of $250.97 million during the quarter, compared to the consensus estimate of $249.85 million. During the same period in the prior year, the firm earned $0.57 earnings per share. CarGurus’s revenue was up 7.2% on a year-over-year basis. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, research analysts forecast that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CARG. Citigroup raised their target price on CarGurus from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday. BTIG Research upped their price target on CarGurus from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada increased their price objective on CarGurus from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Piper Sandler reissued a “sector weight” rating on shares of CarGurus in a research report on Friday, June 12th. Finally, B. Riley Financial restated a “buy” rating on shares of CarGurus in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.75.

Hedge Funds Weigh In On CarGurus

A number of hedge funds have recently bought and sold shares of CARG. UBS Group AG boosted its stake in CarGurus by 158.2% during the 3rd quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock valued at $57,254,000 after purchasing an additional 942,199 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of CarGurus by 6.6% during the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock valued at $358,773,000 after acquiring an additional 594,670 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of CarGurus during the 4th quarter valued at about $21,756,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of CarGurus by 159,137.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after purchasing an additional 536,292 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in CarGurus during the second quarter valued at approximately $15,631,000. Institutional investors own 86.90% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.