Palantir a high-risk investment with ’a one-of-a-kind growth and margin model’
BOSTON—Dafna Sarnoff, Chief Marketing Officer at CarGurus , Inc. (NASDAQ:CARG), recently executed a stock transaction involving the sale of 5,445 shares of the company’s Class A common stock. The shares were sold on April 2 at an average price of $28.63, totaling approximately $155,890. The transaction comes as CarGurus, with a market capitalization of $2.8 billion and impressive gross profit margins of 83.7%, shows strong financial health according to InvestingPro analysis. This transaction was conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell shares.
In a related transaction on April 1, Sarnoff had 4,147 shares withheld to cover tax liabilities upon the vesting of restricted stock units, valued at $121,258 with each share priced at $29.24. Following these transactions, Sarnoff holds 127,889 shares of CarGurus stock.
In other recent news, CarGurus Inc. reported its fourth-quarter 2024 earnings, revealing a mixed performance. The company’s EBITDA met guidance, although it marked a departure from surpassing expectations as it had for the previous eight quarters. Revenue for the quarter was slightly below consensus estimates, with marketplace revenue reported at $210 million, missing the analyst’s $211 million estimate but within the company’s guidance of $208 to $212 million. Analysts from BTIG and Citi have adjusted their price targets for CarGurus to $40, citing mixed earnings results and potential headwinds. Meanwhile, JMP analysts lowered their price target to $43 but maintained a Market Outperform rating, noting the company’s durable business trends despite challenges in the CarOffer segment.
Additionally, CarGurus announced a significant executive change with CFO Elisa Palazzo stepping down in March 2025, and CEO Jason Trevisan assuming her responsibilities temporarily. This transition comes as CarGurus continues to expand its product offerings and enhance its digital retail experience. Despite operational challenges, particularly in its digital wholesale segment, CarGurus has shown growth in its core marketplace business, with promising signs of revenue growth and margin expansion. Analysts remain cautiously optimistic about CarGurus’ strategic investments and future prospects, although they acknowledge the ongoing challenges the company faces.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.