Insider Selling: TrueCar, Inc. (TRUE) EVP Sells $17,294.88 in Stock
TrueCar, Inc. (NASDAQ:TRUE) EVP Neeraj Gunsagar sold 1,096 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $15.78, for a total value of $17,294.88. Following the sale, the executive vice president now owns 271,866 shares in the company, valued at approximately $4,290,045.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Neeraj Gunsagar also recently made the following trade(s):
- On Monday, September 18th, Neeraj Gunsagar sold 10,442 shares of TrueCar stock. The stock was sold at an average price of $16.56, for a total value of $172,919.52.
- On Wednesday, July 26th, Neeraj Gunsagar sold 70,182 shares of TrueCar stock. The stock was sold at an average price of $19.80, for a total value of $1,389,603.60.
- On Thursday, July 27th, Neeraj Gunsagar sold 158,160 shares of TrueCar stock. The stock was sold at an average price of $19.30, for a total value of $3,052,488.00.
TrueCar, Inc. (NASDAQ:TRUE) traded down 1.97% during midday trading on Friday, hitting $15.95. The company’s stock had a trading volume of 480,230 shares. The company’s market cap is $1.57 billion. TrueCar, Inc. has a 52-week low of $8.47 and a 52-week high of $21.75. The stock has a 50 day moving average of $16.33 and a 200 day moving average of $17.35.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $80.75 million. During the same period last year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter 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 year.
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A number of brokerages recently weighed in on TRUE. B. Riley restated a “buy” rating and set a $21.00 price objective on shares of TrueCar in a research report on Saturday, August 26th. Morgan Stanley restated an “underweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. 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 research report on Thursday, August 10th. Cowen and Company restated a “hold” rating and set a $15.00 price objective on shares of TrueCar in a research report on Thursday, August 17th. Finally, Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. TrueCar presently has an average rating of “Buy” and a consensus target price of $18.50.
Several large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in shares of TrueCar by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after purchasing an additional 734 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of TrueCar by 648.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock worth $158,000 after purchasing an additional 6,876 shares during the last quarter. Sei Investments Co. bought a new stake in shares of TrueCar in the first quarter worth about $167,000. North Star Investment Management Corp. bought a new stake in shares of TrueCar in the second quarter worth about $179,000. Finally, SG Americas Securities LLC bought a new stake in shares of TrueCar in the first quarter worth about $190,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
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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