Schwab Charles Investment Management Inc. lifted its holdings in TrueCar Inc (NASDAQ:TRUE) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 348,406 shares of the technology company’s stock after buying an additional 15,258 shares during the period. Schwab Charles Investment Management Inc. owned about 0.35% of TrueCar worth $3,903,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Bank of Montreal Can increased its holdings in shares of TrueCar by 392.6% in the 4th quarter. Bank of Montreal Can now owns 1,000,852 shares of the technology company’s stock worth $11,210,000 after buying an additional 797,658 shares during the last quarter. CWM LLC bought a new stake in shares of TrueCar in the 4th quarter worth about $1,717,000. Public Employees Retirement System of Ohio bought a new stake in shares of TrueCar in the 3rd quarter worth about $1,639,000. California Public Employees Retirement System increased its holdings in shares of TrueCar by 5.0% in the 3rd quarter. California Public Employees Retirement System now owns 191,042 shares of the technology company’s stock worth $3,017,000 after buying an additional 9,042 shares during the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of TrueCar by 63.0% in the 3rd quarter. Bamco Inc. NY now owns 220,000 shares of the technology company’s stock worth $3,474,000 after buying an additional 85,000 shares during the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.
TrueCar Inc (TRUE) opened at $10.80 on Friday. The company has a market cap of $1,085.03, a PE ratio of -30.86 and a beta of 2.52. TrueCar Inc has a fifty-two week low of $10.16 and a fifty-two week high of $21.75. The company has a current ratio of 6.41, a quick ratio of 6.41 and a debt-to-equity ratio of 0.09.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $83.13 million for the quarter, compared to the consensus estimate of $81.72 million. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.70%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. equities analysts predict that TrueCar Inc will post -0.25 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on TRUE. ValuEngine downgraded shares of TrueCar from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. B. Riley reiterated a “buy” rating and set a $18.00 price target on shares of TrueCar in a report on Wednesday, January 24th. Finally, Stephens set a $18.00 price target on shares of TrueCar and gave the company a “buy” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. TrueCar currently has an average rating of “Hold” and an average target price of $17.56.
In other TrueCar news, SVP John Pierantoni sold 2,494 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the transaction, the senior vice president now directly owns 57,513 shares in the company, valued at approximately $649,321.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Neeraj Gunsagar sold 10,443 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $11.28, for a total transaction of $117,797.04. Following the completion of the transaction, the executive vice president now owns 254,144 shares in the company, valued at $2,866,744.32. The disclosure for this sale can be found here. Insiders sold a total of 15,670 shares of company stock worth $177,654 over the last 90 days. Insiders own 15.50% of the company’s stock.
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TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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