KCG Holdings Inc. Takes Position in TrueCar, Inc. (TRUE)
KCG Holdings Inc. acquired a new position in shares of TrueCar, Inc. (NASDAQ:TRUE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,763 shares of the technology company’s stock, valued at approximately $259,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Mercantile Trust Co. bought a new position in shares of TrueCar during the first quarter worth about $141,000. Sei Investments Co. bought a new position in shares of TrueCar during the first quarter worth about $167,000. SG Americas Securities LLC bought a new position in shares of TrueCar during the first quarter worth about $190,000. Cipher Capital LP bought a new position in shares of TrueCar during the first quarter worth about $215,000. Finally, Legal & General Group Plc increased its position in shares of TrueCar by 33.0% in the first quarter. Legal & General Group Plc now owns 17,862 shares of the technology company’s stock worth $277,000 after buying an additional 4,430 shares during the period. Institutional investors own 83.67% of the company’s stock.
Shares of TrueCar, Inc. (TRUE) opened at 19.15 on Monday. TrueCar, Inc. has a one year low of $8.09 and a one year high of $21.75. The stock’s 50 day moving average price is $19.65 and its 200 day moving average price is $16.47. The stock’s market capitalization is $1.78 billion.
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Several research analysts have weighed in on the company. B. Riley restated a “buy” rating and issued a $21.50 price target on shares of TrueCar in a research note on Tuesday, June 20th. Royal Bank Of Canada restated a “buy” rating and issued a $22.00 price target on shares of TrueCar in a research note on Friday. Cowen and Company upped their price target on TrueCar from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 25th. Zacks Investment Research downgraded TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Morgan Stanley restated an “underweight” rating and issued a $13.00 price target (up from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. 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. The stock presently has an average rating of “Buy” and a consensus price target of $18.50.
In other TrueCar news, EVP Jeff Swart sold 34,863 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.82, for a total transaction of $690,984.66. Following the transaction, the executive vice president now owns 99,084 shares of the company’s stock, valued at $1,963,844.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neeraj Gunsagar sold 158,160 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $19.30, for a total value of $3,052,488.00. Following the transaction, the executive vice president now directly owns 363,655 shares in the company, valued at approximately $7,018,541.50. The disclosure for this sale can be found here. Insiders sold 1,513,149 shares of company stock worth $28,870,907 over the last ninety days. Corporate insiders own 17.30% of the company’s stock.
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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