Swiss National Bank raised its position in TrueCar Inc (NASDAQ:TRUE) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,800 shares of the technology company’s stock after acquiring an additional 9,300 shares during the period. Swiss National Bank owned approximately 0.13% of TrueCar worth $1,409,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. California State Teachers Retirement System boosted its stake in TrueCar by 3.6% in the second quarter. California State Teachers Retirement System now owns 110,902 shares of the technology company’s stock valued at $2,210,000 after acquiring an additional 3,839 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of TrueCar in the third quarter worth $104,000. The Manufacturers Life Insurance Company raised its holdings in shares of TrueCar by 15.6% in the second quarter. The Manufacturers Life Insurance Company now owns 49,418 shares of the technology company’s stock worth $984,000 after buying an additional 6,653 shares during the last quarter. American International Group Inc. raised its holdings in shares of TrueCar by 18.3% in the third quarter. American International Group Inc. now owns 45,936 shares of the technology company’s stock worth $725,000 after buying an additional 7,101 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of TrueCar in the third quarter worth $119,000. Institutional investors own 89.04% of the company’s stock.
In other TrueCar news, EVP Neeraj Gunsagar sold 10,443 shares of TrueCar stock in a transaction on Monday, December 18th. The shares were sold at an average price of $11.28, for a total value of $117,797.04. Following the completion of the transaction, the executive vice president now owns 254,144 shares of the company’s stock, valued at $2,866,744.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Pierantoni sold 2,494 shares of TrueCar stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total transaction of $28,157.26. Following the completion of the transaction, the senior vice president now directly owns 57,513 shares of the company’s stock, valued at approximately $649,321.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,670 shares of company stock valued at $177,654. 15.50% of the stock is currently owned by corporate insiders.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, February 15th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.70%. The firm had revenue of $83.13 million during the quarter, compared to analysts’ expectations of $81.72 million. During the same quarter last year, the company posted ($0.01) earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. analysts forecast that TrueCar Inc will post -0.25 EPS for the current year.
TRUE has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of TrueCar from a “hold” rating to a “strong sell” rating in a report on Saturday, January 20th. ValuEngine cut shares of TrueCar from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. B. Riley reaffirmed a “buy” rating and issued a $18.00 price target on shares of TrueCar in a report on Wednesday, January 24th. Finally, Stephens set a $18.00 price target on shares of TrueCar and gave the stock a “buy” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. TrueCar currently has an average rating of “Hold” and a consensus price target of $17.56.
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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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