TrueCar Inc. (TRUE) EVP Neeraj Gunsagar Sells 5,000 Shares
TrueCar Inc. (NASDAQ:TRUE) EVP Neeraj Gunsagar sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $12.77, for a total value of $63,850.00. Following the completion of the transaction, the executive vice president now directly owns 352,156 shares of the company’s stock, valued at approximately $4,497,032.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
TrueCar Inc. (NASDAQ:TRUE) traded down 0.63% during midday trading on Friday, hitting $12.55. The stock had a trading volume of 335,056 shares. TrueCar Inc. has a 12-month low of $4.42 and a 12-month high of $12.68. The firm’s market cap is $1.07 billion. The stock has a 50-day moving average price of $10.03 and a 200 day moving average price of $8.80.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.05. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. The company had revenue of $75.01 million for the quarter, compared to analyst estimates of $71.17 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that TrueCar Inc. will post ($0.17) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in TRUE. BlackRock Advisors LLC raised its stake in shares of TrueCar by 2.4% in the second quarter. BlackRock Advisors LLC now owns 25,525 shares of the company’s stock worth $200,000 after buying an additional 587 shares in the last quarter. BlackRock Group LTD increased its stake in TrueCar by 4.4% in the third quarter. BlackRock Group LTD now owns 18,933 shares of the company’s stock worth $178,000 after buying an additional 792 shares during the last quarter. California State Teachers Retirement System increased its stake in TrueCar by 0.7% in the third quarter. California State Teachers Retirement System now owns 114,763 shares of the company’s stock worth $1,083,000 after buying an additional 800 shares during the last quarter. Rhumbline Advisers increased its stake in TrueCar by 1.7% in the third quarter. Rhumbline Advisers now owns 51,521 shares of the company’s stock worth $486,000 after buying an additional 840 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in TrueCar by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,538 shares of the company’s stock worth $161,000 after buying an additional 881 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors.
TRUE has been the subject of a number of analyst reports. Zacks Investment Research raised TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, August 3rd. B. Riley reaffirmed a “sell” rating and issued a $5.00 price target on shares of TrueCar in a report on Friday, August 5th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $6.00 price target on shares of TrueCar in a report on Friday, August 5th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $10.00 price target (up previously from $6.00) on shares of TrueCar in a report on Monday, August 8th. Finally, Craig Hallum reaffirmed a “hold” rating on shares of TrueCar in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $9.37.
TrueCar Company Profile
TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. 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 enterprises.
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