Engineers Gate Manager LP raised its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 62.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,408 shares of the technology company’s stock after purchasing an additional 44,916 shares during the quarter. Engineers Gate Manager LP owned 0.12% of TrueCar worth $1,854,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Senvest Management LLC raised its holdings in shares of TrueCar by 4.6% in the third quarter. Senvest Management LLC now owns 3,975,385 shares of the technology company’s stock valued at $62,771,000 after acquiring an additional 174,103 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in shares of TrueCar in the third quarter valued at about $1,604,000. Schwab Charles Investment Management Inc. raised its holdings in shares of TrueCar by 15.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 333,148 shares of the technology company’s stock valued at $5,261,000 after acquiring an additional 44,314 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of TrueCar in the third quarter valued at about $721,000. Finally, Legal & General Group Plc raised its holdings in shares of TrueCar by 49.8% in the third quarter. Legal & General Group Plc now owns 29,553 shares of the technology company’s stock valued at $464,000 after acquiring an additional 9,819 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
In other TrueCar news, SVP John Pierantoni sold 3,964 shares of TrueCar stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $16.56, for a total value of $65,643.84. Following the transaction, the senior vice president now owns 67,589 shares in the company, valued at $1,119,273.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neeraj Gunsagar sold 10,442 shares of TrueCar stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $16.56, for a total value of $172,919.52. Following the completion of the transaction, the executive vice president now owns 283,508 shares in the company, valued at approximately $4,694,892.48. The disclosure for this sale can be found here. Insiders sold 20,017 shares of company stock worth $326,288 in the last quarter. 15.50% of the stock is owned by insiders.
TrueCar, Inc. (NASDAQ TRUE) opened at $11.73 on Friday. TrueCar, Inc. has a 52 week low of $10.16 and a 52 week high of $21.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.31 and a quick ratio of 6.31.
Several analysts recently weighed in on the company. B. Riley restated a “buy” rating and issued a $21.00 price objective on shares of TrueCar in a report on Monday, August 21st. Cowen restated a “hold” rating and issued a $15.00 price objective on shares of TrueCar in a report on Thursday, August 17th. Royal Bank Of Canada decreased their price objective on TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, November 7th. Zacks Investment Research downgraded TrueCar from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Finally, Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective for the company in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.44.
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TrueCar Company Profile
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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