Brian Skutta Sells 61,942 Shares of TrueCar, Inc. (TRUE) Stock
TrueCar, Inc. (NASDAQ:TRUE) EVP Brian Skutta sold 61,942 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $17.01, for a total value of $1,053,633.42. Following the transaction, the executive vice president now directly owns 181,282 shares of the company’s stock, valued at approximately $3,083,606.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Brian Skutta also recently made the following trade(s):
- On Thursday, September 7th, Brian Skutta sold 117,410 shares of TrueCar stock. The shares were sold at an average price of $17.01, for a total value of $1,997,144.10.
Shares of TrueCar, Inc. (NASDAQ:TRUE) opened at 16.81 on Friday. The stock’s market capitalization is $1.66 billion. The company has a 50-day moving average price of $17.59 and a 200 day moving average price of $17.15. TrueCar, Inc. has a 52 week low of $8.09 and a 52 week high of $21.75.
TrueCar (NASDAQ:TRUE) last posted its earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The firm had revenue of $81.82 million during the quarter, compared to analysts’ expectations of $80.75 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Analysts forecast that TrueCar, Inc. will post $0.02 earnings per share for the current fiscal year.
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TRUE has been the subject of a number of recent analyst reports. TheStreet upgraded TrueCar from a “d” rating to a “c” rating in a research report on Monday, May 15th. B. Riley reiterated a “buy” rating and issued a $21.50 price target on shares of TrueCar in a research report on Tuesday, June 20th. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley reiterated an “underweight” rating and issued a $13.00 price target (up previously from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 price target on shares of TrueCar in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.56.
Several institutional investors have recently modified their holdings of the company. Caledonia Private Investments Pty Ltd lifted its holdings in shares of TrueCar by 158.6% in the second quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock valued at $238,607,000 after purchasing an additional 7,342,518 shares in the last quarter. UBS Group AG lifted its holdings in shares of 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 purchasing an additional 131,006 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of TrueCar by 43.9% in the second quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after purchasing an additional 2,004,642 shares in the last quarter. EastBay Asset Management LLC lifted its holdings in shares of TrueCar by 94.7% in the second quarter. EastBay Asset Management LLC now owns 2,894,876 shares of the technology company’s stock valued at $57,695,000 after purchasing an additional 1,408,301 shares in the last quarter. Finally, Steadfast Capital Management LP bought a new stake in shares of TrueCar in the second quarter valued at about $56,303,000. Institutional investors own 91.71% of the company’s stock.
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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