TrueCar (TRUE) Trading 12.4% Higher

TrueCar Inc (NASDAQ:TRUE) traded up 12.4% during mid-day trading on Friday . The stock traded as high as $13.64 and last traded at $12.79. 7,001,750 shares traded hands during trading, an increase of 343% from the average session volume of 1,582,143 shares. The stock had previously closed at $11.38.

Several equities research analysts recently issued reports on the company. ValuEngine upgraded TrueCar from a “sell” rating to a “hold” rating in a report on Friday. Goldman Sachs Group downgraded TrueCar from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $11.00 to $9.00 in a report on Thursday, June 7th. Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of TrueCar in a report on Thursday, May 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.84.

The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.09.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Thursday, August 9th. The technology company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. TrueCar had a negative return on equity of 8.49% and a negative net margin of 10.07%. The business had revenue of $87.85 million during the quarter, compared to the consensus estimate of $87.81 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. TrueCar’s revenue was up 7.4% compared to the same quarter last year. equities research analysts predict that TrueCar Inc will post -0.27 EPS for the current year.

In other TrueCar news, EVP Robert Mcclung sold 16,968 shares of the company’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $10.95, for a total value of $185,799.60. Following the completion of the transaction, the executive vice president now owns 144,323 shares in the company, valued at approximately $1,580,336.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Pierantoni sold 7,706 shares of the company’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $11.00, for a total value of $84,766.00. Following the completion of the transaction, the chief financial officer now owns 85,549 shares of the company’s stock, valued at approximately $941,039. The disclosure for this sale can be found here. Insiders sold a total of 52,994 shares of company stock valued at $583,138 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

A number of large investors have recently made changes to their positions in TRUE. Wells Fargo & Company MN grew its stake in TrueCar by 24.4% in the 4th quarter. Wells Fargo & Company MN now owns 185,543 shares of the technology company’s stock valued at $2,078,000 after purchasing an additional 36,335 shares during the period. Geode Capital Management LLC grew its stake in TrueCar by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 670,240 shares of the technology company’s stock valued at $7,506,000 after purchasing an additional 17,270 shares during the period. Teachers Advisors LLC grew its stake in TrueCar by 8.0% in the 4th quarter. Teachers Advisors LLC now owns 125,229 shares of the technology company’s stock valued at $1,403,000 after purchasing an additional 9,231 shares during the period. Xact Kapitalforvaltning AB bought a new position in TrueCar in the 4th quarter valued at $132,000. Finally, Cowen Prime Services LLC grew its stake in TrueCar by 85.7% in the 1st quarter. Cowen Prime Services LLC now owns 344,400 shares of the technology company’s stock valued at $3,258,000 after purchasing an additional 158,920 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

TrueCar Company Profile

TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

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