TrueCar Inc. (NASDAQ:TRUE) was up 3.1% during mid-day trading on Monday . The stock traded as high as $8.71 and last traded at $8.66, with a volume of 572,074 shares trading hands. The stock had previously closed at $8.40.

Several equities research analysts recently issued reports on TRUE shares. Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, April 21st. B. Riley reiterated a “sell” rating and issued a $3.50 price target on shares of TrueCar in a research note on Monday. Morgan Stanley reiterated a “hold” rating on shares of TrueCar in a research note on Sunday, May 8th. Cowen and Company reiterated a “market perform” rating and issued a $5.00 price target (up from $4.00) on shares of TrueCar in a research note on Monday, May 9th. Finally, JMP Securities reiterated a “hold” rating on shares of TrueCar in a research note on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.40.

The stock has a 50-day moving average of $7.66 and a 200 day moving average of $6.51. The company’s market capitalization is $725.47 million.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The company had revenue of $61.86 million for the quarter, compared to analysts’ expectations of $61.13 million. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts predict that TrueCar Inc. will post ($0.29) EPS for the current fiscal year.

In related news, major shareholder Services Automobile Ass United sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $7.23, for a total value of $1,446,000.00. Following the completion of the transaction, the insider now directly owns 10,461,346 shares of the company’s stock, valued at approximately $75,635,531.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

A hedge fund recently raised its stake in TrueCar stock. Morgan Stanley raised its stake in TrueCar Inc. (NASDAQ:TRUE) by 167.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,217,816 shares of the company’s stock after buying an additional 3,893,934 shares during the period. Morgan Stanley owned 7.52% of TrueCar worth $59,318,000 at the end of the most recent quarter.

TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. 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 enterprises.

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