TrueCar Inc (NASDAQ:TRUE)’s share price was down 6.1% during trading on Friday . The company traded as low as $10.85 and last traded at $11.18. Approximately 8,454,142 shares traded hands during mid-day trading, an increase of 383% from the average daily volume of 1,751,622 shares. The stock had previously closed at $11.91.
A number of equities analysts have commented on TRUE shares. Royal Bank of Canada dropped their price objective on shares of TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. B. Riley reissued a “buy” rating and issued a $18.00 price objective (down from $21.00) on shares of TrueCar in a research note on Tuesday, October 31st. ValuEngine cut shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Stephens set a $18.00 price objective on shares of TrueCar and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.56.
The company has a market cap of $1,117.85, a price-to-earnings ratio of -31.94 and a beta of 2.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.31 and a quick ratio of 6.31.
TrueCar (NASDAQ:TRUE) last released 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. The firm had revenue of $83.13 million during the quarter, compared to analyst estimates of $81.72 million. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.96%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. equities research analysts anticipate that TrueCar Inc will post -0.21 earnings per share for the current year.
In other news, SVP John Pierantoni sold 2,494 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the completion of the sale, the senior vice president now owns 57,513 shares in the company, valued at approximately $649,321.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Neeraj Gunsagar sold 10,443 shares of TrueCar stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $11.28, for a total transaction of $117,797.04. Following the sale, the executive vice president now owns 254,144 shares of the company’s stock, valued at approximately $2,866,744.32. The disclosure for this sale can be found here. Insiders sold a total of 15,670 shares of company stock valued at $177,654 in the last 90 days. Company insiders own 15.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caledonia Private Investments Pty Ltd lifted its holdings in TrueCar by 1.4% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 16,474,191 shares of the technology company’s stock valued at $184,511,000 after buying an additional 233,433 shares in the last quarter. Senvest Management LLC lifted its holdings in TrueCar by 72.6% during the 4th quarter. Senvest Management LLC now owns 6,859,792 shares of the technology company’s stock valued at $76,830,000 after buying an additional 2,884,407 shares in the last quarter. Vanguard Group Inc. lifted its holdings in TrueCar by 43.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after buying an additional 2,004,642 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in TrueCar by 63.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 4,500,000 shares of the technology company’s stock valued at $50,400,000 after buying an additional 1,750,000 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in TrueCar by 2.1% during the 4th quarter. BlackRock Inc. now owns 4,453,802 shares of the technology company’s stock valued at $49,882,000 after buying an additional 93,523 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.
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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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