TrueCar (NASDAQ:TRUE) Downgraded by StockNews.com

StockNews.com downgraded shares of TrueCar (NASDAQ:TRUE) from a buy rating to a hold rating in a research note released on Monday.

Separately, Needham & Company LLC reduced their price target on TrueCar from $4.50 to $4.00 and set a buy rating on the stock in a research report on Tuesday, April 30th.

TrueCar Trading Down 5.2 %

Shares of TRUE stock opened at $2.73 on Monday. The company has a market cap of $250.00 million, a PE ratio of -6.83 and a beta of 1.71. The company’s fifty day simple moving average is $3.19 and its 200-day simple moving average is $3.11. TrueCar has a 52 week low of $1.76 and a 52 week high of $4.05.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $41.29 million for the quarter, compared to analyst estimates of $41.50 million. TrueCar had a negative return on equity of 17.12% and a negative net margin of 22.15%. Equities research analysts expect that TrueCar will post -0.22 EPS for the current fiscal year.

Insider Activity at TrueCar

In related news, EVP Jeff Swart sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $3.45, for a total transaction of $51,750.00. Following the completion of the sale, the executive vice president now directly owns 325,044 shares of the company’s stock, valued at approximately $1,121,401.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On TrueCar

A number of large investors have recently added to or reduced their stakes in TRUE. Principal Financial Group Inc. acquired a new stake in TrueCar during the 3rd quarter valued at $27,000. Gladius Capital Management LP grew its holdings in TrueCar by 31.3% during the 3rd quarter. Gladius Capital Management LP now owns 15,367 shares of the technology company’s stock worth $32,000 after acquiring an additional 3,661 shares in the last quarter. Fairman Group LLC acquired a new position in TrueCar during the 4th quarter worth $73,000. SG Americas Securities LLC acquired a new position in TrueCar during the 3rd quarter worth $83,000. Finally, New York State Common Retirement Fund grew its holdings in TrueCar by 269.8% during the 4th quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company’s stock worth $96,000 after acquiring an additional 20,254 shares in the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

TrueCar Company Profile

TrueCar, Inc 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. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.