Senvest Management LLC boosted its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,975,385 shares of the technology company’s stock after purchasing an additional 174,103 shares during the quarter. TrueCar comprises approximately 4.1% of Senvest Management LLC’s investment portfolio, making the stock its 5th biggest position. Senvest Management LLC owned about 3.98% of TrueCar worth $62,771,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in TRUE. Caledonia Private Investments Pty Ltd lifted its stake in TrueCar by 158.6% in the second quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock valued at $238,607,000 after buying an additional 7,342,518 shares during the period. Steadfast Capital Management LP bought a new position in TrueCar in the 2nd quarter valued at $56,303,000. Ontario Teachers Pension Plan Board bought a new position in TrueCar in the 2nd quarter valued at $49,825,000. Wasatch Advisors Inc. grew its stake in shares of TrueCar by 812.5% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,405,517 shares of the technology company’s stock worth $37,983,000 after acquiring an additional 2,141,897 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of TrueCar by 43.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock worth $131,037,000 after acquiring an additional 2,004,642 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP John Pierantoni sold 3,964 shares of TrueCar stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $16.56, for a total value of $65,643.84. Following the sale, the senior vice president now directly owns 67,589 shares in the company, valued at approximately $1,119,273.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Neeraj Gunsagar sold 1,882 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $15.22, for a total value of $28,644.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,017 shares of company stock valued at $326,288. Company insiders own 15.50% of the company’s stock.
TrueCar, Inc. (NASDAQ TRUE) opened at $11.00 on Wednesday. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.09. TrueCar, Inc. has a 52 week low of $10.16 and a 52 week high of $21.75.
A number of equities analysts recently weighed in on TRUE shares. B. Riley reissued a “buy” rating and set a $21.00 price objective on shares of TrueCar in a report on Monday, August 21st. Cowen reiterated a “hold” rating and issued a $15.00 price objective on shares of TrueCar in a research report on Thursday, August 17th. Royal Bank of Canada dropped their price target on TrueCar from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Zacks Investment Research cut TrueCar from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Finally, Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price target for the company in a research note on Monday, October 2nd. One 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 has an average rating of “Hold” and a consensus target price of $17.44.
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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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