TrueCar, Inc. (TRUE) Director Sells $165,000.00 in Stock
TrueCar, Inc. (NASDAQ:TRUE) Director John Krafcik sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the transaction, the director now owns 61,678 shares in the company, valued at approximately $1,017,687. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of TrueCar, Inc. (NASDAQ TRUE) traded down 1.62% during mid-day trading on Thursday, hitting $16.35. 1,034,047 shares of the stock traded hands. The firm’s market capitalization is $1.61 billion. TrueCar, Inc. has a one year low of $8.09 and a one year high of $21.75. The company’s 50 day moving average is $19.26 and its 200 day moving average is $16.78.
TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, August 8th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.00%. The firm had revenue of $81.82 million for the quarter, compared to analyst estimates of $80.75 million. During the same period last year, the firm earned ($0.05) EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts expect that TrueCar, Inc. will post $0.02 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its position in TrueCar by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after buying an additional 734 shares in the last quarter. First Mercantile Trust Co. purchased a new position in TrueCar during the first quarter valued at approximately $141,000. BNP Paribas Arbitrage SA raised its position in TrueCar by 648.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after buying an additional 6,876 shares in the last quarter. Sei Investments Co. purchased a new position in TrueCar during the first quarter valued at approximately $167,000. Finally, North Star Investment Management Corp. purchased a new position in TrueCar during the second quarter valued at approximately $179,000. 84.57% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on TRUE. Cowen and Company restated a “hold” rating and set a $15.00 price objective on shares of TrueCar in a report on Thursday. B. Riley restated a “buy” rating and set a $21.00 price objective on shares of TrueCar in a report on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price objective (up previously from $22.00) on shares of TrueCar in a report on Thursday, August 10th. Morgan Stanley restated an “underweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of TrueCar in a report on Thursday, July 20th. Finally, Zacks Investment Research downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.56.
TrueCar Company Profile
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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