Insider Buying: Christopher W. Claus Buys 30,000 Shares of TrueCar Stock (TRUE)
TrueCar (NASDAQ:TRUE) Director Christopher W. Claus purchased 30,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $14.18 per share, for a total transaction of $425,400.00. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $425,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
TrueCar (NASDAQ:TRUE) traded down 4.35% during mid-day trading on Wednesday, hitting $15.18. 1,290,511 shares of the company’s stock traded hands. TrueCar has a one year low of $9.05 and a one year high of $15.98. The stock’s 50-day moving average is $13.69 and its 200-day moving average is $12.95. The company’s market cap is $1.029 billion. TrueCar also was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,359,186 shares, an increase of 34.7% from the July 15th total of 1,751,123 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 361,389 shares, the days-to-cover ratio is presently 6.5 days.
A number of research firms have recently commented on TRUE. Analysts at JMP Securities raised their price target on shares of TrueCar from $20.00 to $21.00 in a research note on Friday, August 8th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of TrueCar from $19.00 to $20.00 in a research note on Friday, August 8th. Finally, analysts at Cowen and Company raised their price target on shares of TrueCar from $21.00 to $22.00 in a research note on Friday, August 8th. Two investment analysts have rated the stock with a hold rating, TrueCar currently has a consensus rating of “Hold” and an average target price of $19.20.
TrueCar, Inc (NASDAQ:TRUE) is a data-driven online platform operating a technology infrastructure, powered by data and analytics.
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