Shares of TrueCar, Inc. (NASDAQ:TRUE) fell 0% during mid-day trading on Tuesday after Royal Bank Of Canada lowered their price target on the stock from $23.00 to $18.00. Royal Bank Of Canada currently has an outperform rating on the stock. TrueCar traded as low as $10.45 and last traded at $10.58. 18,236,247 shares were traded during mid-day trading, an increase of 1,062% from the average session volume of 1,570,000 shares. The stock had previously closed at $10.58.

A number of other brokerages also recently weighed in on TRUE. B. Riley reissued a “buy” rating and issued a $21.00 price target on shares of TrueCar in a report on Saturday, August 26th. Morgan Stanley reissued an “underweight” rating and issued a $13.00 price target (up from $12.00) on shares of TrueCar in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $17.00 price target on shares of TrueCar in a report on Wednesday, October 11th. Cowen and Company reissued a “hold” rating and issued a $15.00 price target on shares of TrueCar in a report on Thursday, August 17th. Finally, Zacks Investment Research downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $17.44.

In other TrueCar news, EVP Neeraj Gunsagar sold 1,882 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $15.22, for a total transaction of $28,644.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ion Yadigaroglu sold 122,766 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $16.45, for a total transaction of $2,019,500.70. Following the sale, the director now directly owns 19,539 shares in the company, valued at $321,416.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 500,669 shares of company stock worth $8,333,936. Insiders own 15.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its holdings in TrueCar by 188.3% during the third quarter. Ameriprise Financial Inc. now owns 272,757 shares of the technology company’s stock valued at $4,307,000 after purchasing an additional 178,163 shares during the last quarter. SG Americas Securities LLC purchased a new stake in TrueCar during the third quarter valued at about $104,000. Hood River Capital Management LLC lifted its holdings in TrueCar by 8.6% during the third quarter. Hood River Capital Management LLC now owns 715,942 shares of the technology company’s stock valued at $11,305,000 after purchasing an additional 56,998 shares during the last quarter. Quantbot Technologies LP purchased a new stake in TrueCar during the third quarter valued at about $842,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in TrueCar during the third quarter valued at about $119,000. 92.00% of the stock is currently owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.06 and a current ratio of 6.06.

TRADEMARK VIOLATION NOTICE: This report was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/11/07/truecar-inc-true-trading-down-0-after-analyst-downgrade.html.

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.

Receive News & Stock Ratings for TrueCar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar Inc. and related stocks with our FREE daily email newsletter.