TrueCar Inc (NASDAQ:TRUE) SVP John Pierantoni sold 2,494 shares of TrueCar stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the sale, 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 document filed with the SEC, which is available at the SEC website.
TrueCar Inc (NASDAQ:TRUE) traded up $0.21 during trading hours on Friday, reaching $11.60. The company’s stock had a trading volume of 650,700 shares, compared to its average volume of 963,767. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.09. TrueCar Inc has a 1-year low of $10.16 and a 1-year high of $21.75. The company has a market cap of $1,138.85, a P/E ratio of -32.22 and a beta of 2.71.
A number of large investors have recently added to or reduced their stakes in TRUE. Caledonia Private Investments Pty Ltd increased its stake in TrueCar by 158.6% in the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock worth $238,607,000 after acquiring an additional 7,342,518 shares during the last quarter. Steadfast Capital Management LP bought a new stake in TrueCar in the 2nd quarter worth approximately $56,303,000. Ontario Teachers Pension Plan Board bought a new stake in TrueCar in the 2nd quarter worth approximately $49,825,000. Wasatch Advisors Inc. increased its stake in TrueCar by 812.5% in the 3rd quarter. Wasatch Advisors Inc. now owns 2,405,517 shares of the technology company’s stock worth $37,983,000 after acquiring an additional 2,141,897 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in TrueCar by 43.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock worth $131,037,000 after acquiring an additional 2,004,642 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on TRUE shares. Zacks Investment Research downgraded TrueCar from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Goldman Sachs Group reissued a “neutral” rating and set a $17.00 target price on shares of TrueCar in a research note on Wednesday, October 11th. Royal Bank of Canada decreased their target price on TrueCar from $23.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 7th. B. Riley reissued a “buy” rating and set a $18.00 target price (down previously from $21.00) on shares of TrueCar in a research note on Tuesday, November 7th. Finally, Morgan Stanley raised TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 target price on the stock in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. TrueCar currently has a consensus rating of “Hold” and an average target price 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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