Caledonia Private Investments Pty Ltd increased its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 158.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,972,257 shares of the technology company’s stock after purchasing an additional 7,342,518 shares during the quarter. TrueCar makes up approximately 6.6% of Caledonia Private Investments Pty Ltd’s holdings, making the stock its 5th largest holding. Caledonia Private Investments Pty Ltd owned 12.15% of TrueCar worth $238,607,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in TrueCar by 15.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,418 shares of the technology company’s stock worth $984,000 after purchasing an additional 6,653 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in TrueCar during the 2nd quarter worth about $56,303,000. State Street Corp increased its position in TrueCar by 14.7% during the 2nd quarter. State Street Corp now owns 1,151,554 shares of the technology company’s stock worth $22,952,000 after purchasing an additional 147,421 shares in the last quarter. Calixto Global Investors LP purchased a new stake in TrueCar during the 2nd quarter worth about $29,373,000. Finally, UBS Oconnor LLC purchased a new stake in TrueCar during the 2nd quarter worth about $1,579,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

TrueCar, Inc. (TRUE) traded down 0.98% during mid-day trading on Friday, reaching $16.11. The company’s stock had a trading volume of 2,479,918 shares. The firm has a 50-day moving average of $16.33 and a 200 day moving average of $17.36. The firm’s market capitalization is $1.59 billion. TrueCar, Inc. has a 1-year low of $8.69 and a 1-year high of $21.75.

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, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $81.82 million during the quarter, compared to the consensus estimate of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Equities analysts expect that TrueCar, Inc. will post $0.02 earnings per share for the current year.

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In related news, EVP Jeff Swart sold 34,863 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $19.82, for a total value of $690,984.66. Following the completion of the sale, the executive vice president now directly owns 99,084 shares of the company’s stock, valued at approximately $1,963,844.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Pierantoni sold 2,633 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $15.87, for a total value of $41,785.71. Following the completion of the sale, the senior vice president now directly owns 63,027 shares of the company’s stock, valued at $1,000,238.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,011,936 shares of company stock valued at $37,176,200. Company insiders own 15.50% of the company’s stock.

A number of research firms recently commented on TRUE. Zacks Investment Research cut TrueCar from a “hold” rating to a “sell” rating in a research report on Friday. B. Riley reiterated a “buy” rating and set a $21.00 price objective on shares of TrueCar in a research report on Monday, October 2nd. Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective for the company in a research report on Monday, October 2nd. Cowen and Company reiterated a “hold” rating and set a $15.00 price objective on shares of TrueCar in a research report on Thursday, August 17th. Finally, Royal Bank Of Canada reiterated 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. One research 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. TrueCar presently has an average rating of “Buy” and an average price target of $18.50.

TrueCar 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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Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

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