Other research analysts have also recently issued research reports about the company. Cowen started coverage on TrueCar in a report on Monday, May 20th. They issued a “hold” rating and a $7.00 price target on the stock. Zacks Investment Research cut TrueCar from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $8.00 price target on shares of TrueCar in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.91.
Shares of NASDAQ TRUE traded up $0.03 during trading on Thursday, hitting $5.33. The company had a trading volume of 672,046 shares, compared to its average volume of 1,105,436. TrueCar has a 52 week low of $4.98 and a 52 week high of $14.55. The firm has a 50-day moving average of $5.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.09 and a current ratio of 5.09.
In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $5.41, for a total transaction of $41,489.29. Following the sale, the executive vice president now directly owns 121,744 shares of the company’s stock, valued at approximately $658,635.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.00% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in TrueCar by 128.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,659 shares of the technology company’s stock valued at $9,719,000 after purchasing an additional 602,448 shares during the period. Geode Capital Management LLC grew its holdings in shares of TrueCar by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 998,228 shares of the technology company’s stock valued at $9,043,000 after acquiring an additional 93,714 shares in the last quarter. Cowen Prime Services LLC grew its holdings in shares of TrueCar by 74.8% during the 1st quarter. Cowen Prime Services LLC now owns 845,200 shares of the technology company’s stock valued at $5,612,000 after acquiring an additional 361,750 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of TrueCar by 14.7% during the 1st quarter. Stephens Inc. AR now owns 724,317 shares of the technology company’s stock valued at $4,809,000 after acquiring an additional 92,694 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of TrueCar during the 4th quarter valued at $5,669,000. 94.98% of the stock is currently owned by institutional investors.
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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