TrueCar Inc. (NASDAQ:TRUE) shares were up 3.6% on Monday . The company traded as high as $8.71 and last traded at $8.69, with a volume of 645,184 shares changing hands. The stock had previously closed at $8.39.

A number of research analysts have weighed in on TRUE shares. JMP Securities reaffirmed a “hold” rating on shares of TrueCar in a research note on Monday, June 6th. B. Riley reaffirmed a “sell” rating and issued a $3.50 price target on shares of TrueCar in a research note on Monday, July 18th. Zacks Investment Research raised shares of TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $6.00 price target on shares of TrueCar in a research note on Friday, August 5th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $10.00 price target (up previously from $6.00) on shares of TrueCar in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $8.28.

The stock’s market cap is $736.07 million. The firm has a 50-day moving average price of $9.79 and a 200 day moving average price of $7.65.

TrueCar (NASDAQ:TRUE) last posted 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. The firm had revenue of $66.42 million for the quarter, compared to analysts’ expectations of $65.52 million. TrueCar had a negative return on equity of 22.85% and a negative net margin of 24.55%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. Analysts anticipate that TrueCar Inc. will post ($0.24) EPS for the current year.

In related news, major shareholder Services Automobile Ass United sold 30,000 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $7.92, for a total value of $237,600.00. Following the transaction, the insider now directly owns 10,232,346 shares in the company, valued at approximately $81,040,180.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Krafcik sold 16,541 shares of the 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 completion of the transaction, the director now owns 74,869 shares in the company, valued at $799,600.92. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.

Several institutional investors have recently modified their holdings of TRUE. Quantitative Investment Management LLC purchased a new position in shares of TrueCar during the second quarter worth about $134,000. BlackRock Group LTD boosted its position in shares of TrueCar by 47.0% in the first quarter. BlackRock Group LTD now owns 18,406 shares of the company’s stock worth $104,000 after buying an additional 5,884 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of TrueCar by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,538 shares of the company’s stock worth $161,000 after buying an additional 881 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of TrueCar by 2.4% in the second quarter. BlackRock Advisors LLC now owns 25,525 shares of the company’s stock worth $200,000 after buying an additional 587 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of TrueCar by 9.2% in the second quarter. American International Group Inc. now owns 31,287 shares of the company’s stock worth $246,000 after buying an additional 2,626 shares in the last quarter. Institutional investors own 58.68% of the company’s stock.

TrueCar Company Profile

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.

5 Day Chart for NASDAQ:TRUE

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