Insider Selling: TrueCar, Inc. (TRUE) EVP Sells 117,410 Shares of Stock
TrueCar, Inc. (NASDAQ:TRUE) EVP Brian Skutta sold 117,410 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $17.01, for a total transaction of $1,997,144.10. Following the completion of the transaction, the executive vice president now directly owns 181,282 shares in the company, valued at $3,083,606.82. The sale was disclosed in a document filed with the SEC, which is available at this link.
Brian Skutta also recently made the following trade(s):
- On Wednesday, September 6th, Brian Skutta sold 61,942 shares of TrueCar stock. The shares were sold at an average price of $17.01, for a total transaction of $1,053,633.42.
TrueCar, Inc. (TRUE) traded down 0.83% on Friday, reaching $16.81. 558,655 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $17.70 and a 200-day moving average of $17.15. The company’s market cap is $1.66 billion. TrueCar, Inc. has a 12-month low of $8.09 and a 12-month high of $21.75.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.00%. The company had revenue of $81.82 million for the quarter, compared to the consensus estimate of $80.75 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts expect that TrueCar, Inc. will post $0.02 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its holdings in shares of TrueCar by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after purchasing an additional 734 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of TrueCar in the first quarter valued at about $141,000. BNP Paribas Arbitrage SA lifted its holdings in shares of TrueCar by 648.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after purchasing an additional 6,876 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of TrueCar in the first quarter valued at about $167,000. Finally, North Star Investment Management Corp. purchased a new stake in shares of TrueCar in the second quarter valued at about $179,000. 91.71% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on TRUE shares. B. Riley reaffirmed a “buy” rating and issued a $21.50 price target on shares of TrueCar in a research note on Friday, May 12th. TheStreet raised shares of TrueCar from a “d” rating to a “c” rating in a research note on Monday, May 15th. Zacks Investment Research lowered shares of TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.00 price target (up from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $22.00 price target on shares of TrueCar in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. TrueCar currently has an average rating of “Buy” and a consensus price target of $18.56.
TrueCar Company Profile
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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