TrueCar Inc. (NASDAQ:TRUE)’s share price was down 6.7% on Tuesday . The stock traded as low as $9.11 and last traded at $9.11, with a volume of 309,598 shares changing hands. The stock had previously closed at $9.76.

Several equities analysts have recently weighed in on TRUE shares. Zacks Investment Research raised TrueCar from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday. Morgan Stanley reissued a “hold” rating on shares of TrueCar in a research report on Sunday, May 8th. Royal Bank Of Canada reissued a “hold” rating and set a $6.00 target price on shares of TrueCar in a research report on Friday, May 6th. JMP Securities reissued a “hold” rating on shares of TrueCar in a research report on Monday, June 6th. Finally, Cowen and Company reissued a “market perform” rating and set a $5.00 target price (up previously from $4.00) on shares of TrueCar in a research report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $7.21.

The firm’s market cap is $800.02 million. The company’s 50-day moving average is $8.35 and its 200 day moving average is $6.66.

TrueCar (NASDAQ:TRUE) last released its earnings results on Thursday, May 5th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The firm earned $61.86 million during the quarter, compared to analysts’ expectations of $61.13 million. The business’s revenue was up 5.7% compared to the same quarter last year. On average, analysts expect that TrueCar Inc. will post ($0.29) earnings per share for the current fiscal year.

In other news, major shareholder Services Automobile Ass United sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $9.54, for a total value of $1,908,000.00. Following the transaction, the insider now owns 10,072,346 shares in the company, valued at $96,090,180.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

An institutional investor recently raised its position in TrueCar stock. Morgan Stanley increased its position in TrueCar Inc. (NASDAQ:TRUE) by 167.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

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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