TrueCar, Inc. (NASDAQ:TRUE) EVP Neeraj Gunsagar sold 158,160 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $19.30, for a total transaction of $3,052,488.00. Following the sale, the executive vice president now owns 363,655 shares of the company’s stock, valued at approximately $7,018,541.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Neeraj Gunsagar also recently made the following trade(s):
- On Wednesday, July 26th, Neeraj Gunsagar sold 70,182 shares of TrueCar stock. The shares were sold at an average price of $19.80, for a total transaction of $1,389,603.60.
TrueCar, Inc. (TRUE) traded up 1.33% during trading on Friday, hitting $19.02. 1,026,942 shares of the stock traded hands. The company has a 50-day moving average price of $19.64 and a 200 day moving average price of $16.33. The stock’s market cap is $1.77 billion. TrueCar, Inc. has a one year low of $8.09 and a one year high of $21.75.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. TrueCar had a negative return on equity of 13.82% and a negative net margin of 12.64%. The company had revenue of $75.80 million during the quarter, compared to analysts’ expectations of $73.34 million. During the same period last year, the business earned ($0.07) earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. Analysts expect that TrueCar, Inc. will post ($0.01) earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in TRUE. Caledonia Private Investments Pty Ltd raised its stake in shares of TrueCar by 143.2% in the first quarter. Caledonia Private Investments Pty Ltd now owns 4,629,739 shares of the technology company’s stock worth $71,622,000 after buying an additional 2,725,970 shares during the period. Falcon Point Capital LLC acquired a new stake in shares of TrueCar during the first quarter worth $16,441,000. Park West Asset Management LLC acquired a new stake in shares of TrueCar during the first quarter worth $15,506,000. Vanguard Group Inc. raised its stake in shares of TrueCar by 17.0% in the first quarter. Vanguard Group Inc. now owns 4,570,225 shares of the technology company’s stock worth $70,701,000 after buying an additional 665,176 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of TrueCar by 351.6% in the first quarter. Russell Investments Group Ltd. now owns 703,307 shares of the technology company’s stock worth $10,880,000 after buying an additional 547,586 shares during the period. Institutional investors own 83.61% of the company’s stock.
Several research firms have weighed in on TRUE. Morgan Stanley reiterated an “underweight” rating and set a $13.00 target price (up previously from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. B. Riley restated a “buy” rating and set a $21.50 price target on shares of TrueCar in a research report on Sunday, June 25th. TheStreet upgraded shares of TrueCar from a “d” rating to a “c” rating in a research report on Monday, May 15th. Finally, Craig Hallum upped their price target on shares of TrueCar from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. TrueCar presently has a consensus rating of “Buy” and an average target price of $17.25.
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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