TrueCar, Inc. (TRUE) Rating Reiterated by Royal Bank Of Canada
TrueCar, Inc. (NASDAQ:TRUE)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Thursday. They presently have a $23.00 price target on the technology company’s stock, up from their prior price target of $22.00. Royal Bank Of Canada’s target price would indicate a potential upside of 37.48% from the company’s current price.
Other analysts also recently issued reports about the company. B. Riley reissued a “buy” rating and issued a $21.00 price objective on shares of TrueCar in a research note on Wednesday. TheStreet raised TrueCar from a “d” rating to a “c” rating in a report on Monday, May 15th. Zacks Investment Research raised TrueCar from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Friday, May 5th. Craig Hallum upped their target price on TrueCar from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Cowen and Company upped their target price on TrueCar from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $18.56.
TrueCar (TRUE) opened at 16.73 on Thursday. The company’s market capitalization is $1.55 billion. The firm has a 50-day moving average price of $19.66 and a 200-day moving average price of $16.67. TrueCar has a 1-year low of $8.09 and a 1-year high of $21.75.
In other TrueCar news, CFO Michael Guthrie sold 33,673 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $19.01, for a total transaction of $640,123.73. Following the sale, the chief financial officer now owns 381,379 shares in the company, valued at $7,250,014.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeff Swart sold 34,863 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.82, for a total value of $690,984.66. Following the sale, the executive vice president now owns 99,084 shares in the company, valued at approximately $1,963,844.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,513,149 shares of company stock worth $28,870,907. Company insiders own 17.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. UBS Group AG increased its stake in TrueCar by 1.9% in the first quarter. UBS Group AG now owns 6,929,950 shares of the technology company’s stock valued at $107,207,000 after buying an additional 131,006 shares in the last quarter. Caledonia Private Investments Pty Ltd increased its stake in 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 valued at $71,622,000 after buying an additional 2,725,970 shares in the last quarter. Vanguard Group Inc. increased its stake in TrueCar by 17.0% in the first quarter. Vanguard Group Inc. now owns 4,570,225 shares of the technology company’s stock valued at $70,701,000 after buying an additional 665,176 shares in the last quarter. First Trust Advisors LP increased its stake in TrueCar by 18.4% in the second quarter. First Trust Advisors LP now owns 2,746,837 shares of the technology company’s stock valued at $54,744,000 after buying an additional 427,025 shares in the last quarter. Finally, Falcon Point Capital LLC bought a new stake in TrueCar during the first quarter valued at about $16,441,000. Hedge funds and other institutional investors own 83.72% 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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