Legal & General Group Plc boosted its position in TrueCar, Inc. (NASDAQ:TRUE) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,734 shares of the technology company’s stock after buying an additional 1,872 shares during the period. Legal & General Group Plc’s holdings in TrueCar were worth $389,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Park West Asset Management LLC purchased a new position in TrueCar in the 1st quarter valued at $15,506,000. Caledonia Private Investments Pty Ltd grew its position in TrueCar by 143.2% in the 1st quarter. Caledonia Private Investments Pty Ltd now owns 4,629,739 shares of the technology company’s stock valued at $71,622,000 after buying an additional 2,725,970 shares during the last quarter. Ameriprise Financial Inc. grew its position in TrueCar by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 112,937 shares of the technology company’s stock valued at $1,747,000 after buying an additional 7,011 shares during the last quarter. KCG Holdings Inc. purchased a new position in TrueCar in the 1st quarter valued at $259,000. Finally, Geode Capital Management LLC grew its position in TrueCar by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 446,370 shares of the technology company’s stock valued at $6,905,000 after buying an additional 16,483 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.
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In other news, EVP Jeff Swart sold 34,863 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.82, for a total transaction of $690,984.66. Following the transaction, the executive vice president now directly owns 99,084 shares of the company’s stock, valued at $1,963,844.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Pierantoni sold 2,633 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $15.87, for a total value of $41,785.71. Following the transaction, the senior vice president now directly owns 63,027 shares in the company, valued at $1,000,238.49. The disclosure for this sale can be found here. Insiders have sold 2,011,936 shares of company stock worth $37,176,200 over the last three months. Corporate insiders own 15.50% of the company’s stock.
A number of research firms recently weighed in on TRUE. B. Riley reiterated a “buy” rating and issued a $21.00 price objective on shares of TrueCar in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of TrueCar from a “hold” rating to a “sell” rating in a research report on Friday. Cowen and Company reiterated a “hold” rating and issued a $15.00 price objective on shares of TrueCar in a research report on Thursday, August 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price objective (up from $22.00) on shares of TrueCar in a research report on Thursday, August 10th. Finally, Morgan Stanley upgraded shares of TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. TrueCar currently has a consensus rating of “Buy” and an average target price of $18.50.
Shares of TrueCar, Inc. (TRUE) opened at 16.11 on Friday. TrueCar, Inc. has a 12 month low of $8.69 and a 12 month high of $21.75. The firm’s 50 day moving average is $16.33 and its 200 day moving average is $17.36. The stock’s market capitalization is $1.59 billion.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $81.82 million for the quarter, compared to analyst estimates of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. On average, equities analysts predict that TrueCar, Inc. will post $0.02 earnings per share for the current fiscal year.
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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