TrueCar Inc (NASDAQ:TRUE) Holdings Increased by Legal & General Group Plc

Legal & General Group Plc increased its stake in TrueCar Inc (NASDAQ:TRUE) by 29.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,327 shares of the technology company’s stock after acquiring an additional 7,502 shares during the quarter. Legal & General Group Plc’s holdings in TrueCar were worth $470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRUE. Voya Investment Management LLC grew its holdings in shares of TrueCar by 19.1% in the second quarter. Voya Investment Management LLC now owns 33,777 shares of the technology company’s stock valued at $341,000 after purchasing an additional 5,412 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of TrueCar by 295.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock worth $101,000 after purchasing an additional 5,911 shares in the last quarter. Swiss National Bank lifted its position in shares of TrueCar by 4.9% during the third quarter. Swiss National Bank now owns 132,000 shares of the technology company’s stock worth $1,861,000 after purchasing an additional 6,200 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of TrueCar by 19.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 43,537 shares of the technology company’s stock worth $614,000 after purchasing an additional 6,980 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of TrueCar by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 374,103 shares of the technology company’s stock worth $5,275,000 after purchasing an additional 12,598 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

Shares of TRUE opened at $10.06 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.66 and a current ratio of 5.66. TrueCar Inc has a 12-month low of $8.03 and a 12-month high of $14.55. The company has a market cap of $1.03 billion, a PE ratio of -37.26 and a beta of 2.21.

In related news, EVP Robert Mcclung sold 7,669 shares of the stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $9.63, for a total transaction of $73,852.47. Following the completion of the sale, the executive vice president now directly owns 123,992 shares of the company’s stock, valued at $1,194,042.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 9,024 shares of company stock valued at $86,823. Corporate insiders own 5.60% of the company’s stock.

Several analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of TrueCar in a research report on Friday, December 7th. They set a “neutral” rating and a $11.50 price target on the stock. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. BTIG Research began coverage on shares of TrueCar in a report on Tuesday, November 13th. They issued a “buy” rating and a $13.00 target price on the stock. B. Riley reduced their target price on shares of TrueCar from $18.00 to $16.50 and set a “buy” rating on the stock in a report on Wednesday, November 7th. Finally, SunTrust Banks began coverage on shares of TrueCar in a research note on Monday, December 17th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. TrueCar presently has a consensus rating of “Hold” and an average target price of $13.51.

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TrueCar Company Profile

TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

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Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

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