TrueCar, Inc. (NASDAQ:TRUE) SVP John Pierantoni sold 55,895 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $19.81, for a total value of $1,107,279.95. Following the transaction, the senior vice president now directly owns 125,767 shares of the company’s stock, valued at $2,491,444.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
TrueCar, Inc. (NASDAQ TRUE) traded up 1.33% during midday trading on Friday, reaching $19.02. The company had a trading volume of 1,026,942 shares. TrueCar, Inc. has a 12 month low of $8.09 and a 12 month high of $21.75. The firm’s 50-day moving average price is $19.65 and its 200 day moving average price is $16.29. The firm’s market capitalization is $1.77 billion.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. TrueCar had a negative return on equity of 13.82% and a negative net margin of 12.64%. The firm had revenue of $75.80 million during the quarter, compared to analyst estimates of $73.34 million. During the same quarter last year, the firm earned ($0.07) EPS. TrueCar’s quarterly revenue was up 22.5% on a year-over-year basis. Equities analysts anticipate that TrueCar, Inc. will post ($0.01) earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of TrueCar by 5.8% in the fourth quarter. State Street Corp now owns 971,760 shares of the technology company’s stock worth $12,152,000 after buying an additional 53,212 shares during the period. AQR Capital Management LLC increased its position in TrueCar by 22.5% in the fourth quarter. AQR Capital Management LLC now owns 38,782 shares of the technology company’s stock worth $485,000 after buying an additional 7,119 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in TrueCar during the fourth quarter worth approximately $486,000. Teachers Advisors LLC increased its position in TrueCar by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 92,822 shares of the technology company’s stock worth $1,160,000 after buying an additional 5,030 shares in the last quarter. Finally, Columbus Circle Investors purchased a new position in TrueCar during the first quarter worth approximately $4,372,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.
A number of brokerages have recently commented on TRUE. Zacks Investment Research downgraded TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley restated an “underweight” rating and set a $13.00 target price (up previously from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. B. Riley restated a “buy” rating and set a $21.50 target price on shares of TrueCar in a research note on Tuesday, June 20th. TheStreet upgraded TrueCar from a “d” rating to a “c” rating in a research note on Monday, May 15th. Finally, Craig Hallum boosted their target price on TrueCar from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. TrueCar currently has a consensus rating of “Buy” and a consensus price target of $17.25.
About TrueCar
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. 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 a range of enterprises.
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