TrueCar, Inc. (NASDAQ:TRUE) has been assigned a consensus rating of “Buy” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.97.
A number of research firms have weighed in on TRUE. Zacks Investment Research cut shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Tuesday, May 4th. Needham & Company LLC reiterated a “hold” rating on shares of TrueCar in a research note on Friday, March 5th. TheStreet cut TrueCar from a “c-” rating to a “d+” rating in a report on Thursday, April 8th. The Goldman Sachs Group started coverage on TrueCar in a research note on Monday, January 25th. They issued a “neutral” rating for the company. Finally, BTIG Research upgraded shares of TrueCar from a “neutral” rating to a “buy” rating in a report on Monday, March 8th.
TRUE stock traded up $0.11 during trading on Tuesday, hitting $4.66. 812,433 shares of the company traded hands, compared to its average volume of 891,944. TrueCar has a 1 year low of $2.27 and a 1 year high of $6.47. The stock’s 50-day simple moving average is $4.69 and its 200 day simple moving average is $4.65. The company has a market cap of $460.44 million, a PE ratio of -27.41 and a beta of 1.38.
In related news, Director Robert Buce sold 12,000 shares of TrueCar stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $4.50, for a total value of $54,000.00. Following the completion of the transaction, the director now owns 152,442 shares in the company, valued at $685,989. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Simon Edward Smith sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $5.16, for a total transaction of $56,760.00. Following the transaction, the executive vice president now owns 227,690 shares of the company’s stock, valued at approximately $1,174,880.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,860 shares of company stock valued at $215,097. Company insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in TrueCar by 8.6% in the first quarter. BlackRock Inc. now owns 9,218,693 shares of the technology company’s stock valued at $44,113,000 after purchasing an additional 730,119 shares in the last quarter. UBS Group AG grew its stake in TrueCar by 0.3% during the 1st quarter. UBS Group AG now owns 5,114,839 shares of the technology company’s stock worth $24,475,000 after buying an additional 16,060 shares during the last quarter. Morgan Stanley increased its position in TrueCar by 181.3% during the fourth quarter. Morgan Stanley now owns 4,094,275 shares of the technology company’s stock worth $17,196,000 after buying an additional 2,638,688 shares during the period. Dimensional Fund Advisors LP lifted its stake in TrueCar by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,720,320 shares of the technology company’s stock valued at $13,016,000 after buying an additional 113,900 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of TrueCar by 50.5% in the first quarter. Acadian Asset Management LLC now owns 2,095,183 shares of the technology company’s stock valued at $10,026,000 after acquiring an additional 703,363 shares during the period. 89.54% of the stock is currently owned by institutional investors and hedge funds.
TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.
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