Legal & General Group Plc boosted its position in shares of TrueCar, Inc. (NASDAQ:TRUE) by 33.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,862 shares of the technology company’s stock after buying an additional 4,430 shares during the period. Legal & General Group Plc’s holdings in TrueCar were worth $277,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted 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 valued at $12,152,000 after buying an additional 53,212 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of TrueCar by 22.5% in the fourth quarter. AQR Capital Management LLC now owns 38,782 shares of the technology company’s stock valued at $485,000 after buying an additional 7,119 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of TrueCar by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 92,822 shares of the technology company’s stock valued at $1,160,000 after buying an additional 5,030 shares during the last quarter. Columbus Circle Investors bought a new stake in shares of TrueCar during the first quarter valued at approximately $4,372,000. Finally, Profund Advisors LLC boosted its stake in shares of TrueCar by 3.7% in the first quarter. Profund Advisors LLC now owns 46,907 shares of the technology company’s stock valued at $726,000 after buying an additional 1,667 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.
TrueCar, Inc. (NASDAQ:TRUE) opened at 16.56 on Thursday. The firm has a 50-day moving average of $19.66 and a 200-day moving average of $16.67. The company’s market capitalization is $1.55 billion. TrueCar, Inc. has a 52 week low of $8.09 and a 52 week high of $21.75.
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Several analysts have commented on TRUE shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $19.00 price target on shares of TrueCar in a research note on Friday, April 21st. Cowen and Company boosted their price target on shares of TrueCar from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 25th. B. Riley reiterated a “buy” rating and issued a $21.50 price target on shares of TrueCar in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded shares of TrueCar from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Friday, May 5th. Finally, Craig Hallum upped their target price on shares of TrueCar from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.56.
In other news, EVP Neeraj Gunsagar sold 158,160 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $19.30, for a total value of $3,052,488.00. Following the sale, the executive vice president now directly owns 363,655 shares of the company’s stock, valued at approximately $7,018,541.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Guthrie sold 322,865 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $19.12, for a total transaction of $6,173,178.80. Following the completion of the sale, the chief financial officer now directly owns 359,847 shares in the company, valued at $6,880,274.64. The disclosure for this sale can be found here. Insiders sold a total of 1,513,149 shares of company stock worth $28,870,907 over the last three months. Insiders own 17.30% of the company’s stock.
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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