Whetstone Capital Advisors LLC Reduces Stock Holdings in TrueCar, Inc. $TRUE

Whetstone Capital Advisors LLC lowered its position in TrueCar, Inc. (NASDAQ:TRUE) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,074,241 shares of the technology company’s stock after selling 301,899 shares during the quarter. TrueCar comprises about 2.2% of Whetstone Capital Advisors LLC’s holdings, making the stock its 14th biggest holding. Whetstone Capital Advisors LLC owned approximately 3.46% of TrueCar worth $6,948,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TRUE. Cerity Partners LLC purchased a new stake in shares of TrueCar in the fourth quarter valued at about $26,000. BNP Paribas Financial Markets grew its holdings in shares of TrueCar by 89.5% in the third quarter. BNP Paribas Financial Markets now owns 15,827 shares of the technology company’s stock valued at $29,000 after purchasing an additional 7,475 shares during the period. Mariner LLC purchased a new stake in shares of TrueCar in the fourth quarter valued at about $31,000. M&T Bank Corp purchased a new stake in shares of TrueCar in the fourth quarter valued at about $32,000. Finally, Strs Ohio purchased a new stake in shares of TrueCar in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 79.44% of the company’s stock.

TrueCar Stock Performance

Shares of TRUE opened at $2.54 on Monday. The firm has a 50-day moving average price of $2.54 and a 200 day moving average price of $2.44. TrueCar, Inc. has a 12-month low of $1.05 and a 12-month high of $2.54. The firm has a market capitalization of $225.91 million, a P/E ratio of -11.55 and a beta of 2.22.

TrueCar Profile

TrueCar, Inc operates a digital automotive marketplace designed to streamline the vehicle buying and selling process in the United States. Through its online platform, TrueCar provides prospective car buyers with transparent pricing information, real‐time market data and guaranteed savings from a network of certified dealers. The company’s core offerings include pricing analytics, dealer inventory listings and a purchase–price guarantee that aims to reduce the negotiation burden typically associated with new and used vehicle transactions.

Founded in 2005 under the name Zag.com by entrepreneur Scott Painter, the company rebranded as TrueCar in 2010 and subsequently completed its initial public offering in 2014.