Assenagon Asset Management S.A. bought a new position in TrueCar Inc (NASDAQ:TRUE) during the 1st quarter, Holdings Channel reports. The firm bought 172,800 shares of the technology company’s stock, valued at approximately $1,147,000.
Several other institutional investors and hedge funds have also made changes to their positions in TRUE. Norges Bank acquired a new position in shares of TrueCar in the 4th quarter worth approximately $5,669,000. Dimensional Fund Advisors LP boosted its holdings in shares of TrueCar by 128.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,659 shares of the technology company’s stock worth $9,719,000 after acquiring an additional 602,448 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of TrueCar by 463.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 423,468 shares of the technology company’s stock worth $5,971,000 after acquiring an additional 348,334 shares in the last quarter. Morgan Stanley boosted its holdings in shares of TrueCar by 32.9% in the 3rd quarter. Morgan Stanley now owns 1,208,571 shares of the technology company’s stock worth $17,042,000 after acquiring an additional 298,898 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in shares of TrueCar by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 6,955,065 shares of the technology company’s stock worth $98,066,000 after acquiring an additional 295,455 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.
In other TrueCar news, EVP Robert Mcclung sold 7,736 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $6.90, for a total transaction of $53,378.40. Following the transaction, the executive vice president now owns 105,070 shares of the company’s stock, valued at approximately $724,983. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 9,022 shares of company stock worth $61,742. Company insiders own 7.00% of the company’s stock.
NASDAQ:TRUE opened at $7.03 on Tuesday. TrueCar Inc has a 52-week low of $5.95 and a 52-week high of $14.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.15 and a current ratio of 6.15. The firm has a market cap of $734.78 million, a price-to-earnings ratio of -27.04 and a beta of 2.03.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Thursday, February 14th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). TrueCar had a negative return on equity of 7.85% and a negative net margin of 8.01%. The firm had revenue of $91.10 million for the quarter, compared to analyst estimates of $96.03 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that TrueCar Inc will post -0.23 earnings per share for the current year.
Several research analysts have recently commented on the company. SunTrust Banks reissued a “hold” rating and issued a $9.00 target price on shares of TrueCar in a report on Monday. Zacks Investment Research raised TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, February 21st. Benchmark reduced their target price on TrueCar from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, February 15th. B. Riley reaffirmed a “neutral” rating and set a $9.50 price objective (down previously from $16.50) on shares of TrueCar in a report on Friday, February 15th. Finally, ValuEngine downgraded TrueCar from a “hold” rating to a “sell” rating in a report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $10.31.
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TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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