Shares of TrueCar Inc. (NASDAQ:TRUE) dropped 6.4% during trading on Thursday . The stock traded as low as $9.62 and last traded at $9.94, with a volume of 1,119,093 shares trading hands. The stock had previously closed at $10.62.

TRUE has been the topic of several recent analyst reports. B. Riley reiterated a “sell” rating and set a $3.50 target price on shares of TrueCar in a research note on Friday, May 6th. Royal Bank Of Canada restated a “hold” rating and issued a $6.00 price target on shares of TrueCar in a research note on Friday, May 6th. Morgan Stanley restated a “hold” rating on shares of TrueCar in a research note on Sunday, May 8th. Cowen and Company restated 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 restated 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, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. TrueCar presently has a consensus rating of “Hold” and a consensus price target of $8.02.

The company’s market cap is $784.30 million. The firm’s 50-day moving average is $9.72 and its 200-day moving average is $7.20.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. During the same period in the previous year, the company posted ($0.05) earnings per share. The business had revenue of $66.42 million for the quarter, compared to analyst estimates of $65.52 million. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts anticipate that TrueCar Inc. will post ($0.25) EPS for the current fiscal year.

In other news, major shareholder Services Automobile Ass United sold 200,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $7.23, for a total transaction of $1,446,000.00. Following the transaction, the insider now directly owns 10,461,346 shares of the company’s stock, valued at $75,635,531.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Krafcik sold 16,541 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $10.68, for a total value of $176,657.88. Following the transaction, the director now directly owns 74,869 shares in the company, valued at $799,600.92. The disclosure for this sale can be found here.

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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