Massey Quick Simon & CO. LLC bought a new stake in TrueCar, Inc. (NASDAQ:TRUE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 7,510 shares of the technology company’s stock, valued at approximately $119,000.

Several other institutional investors also recently made changes to their positions in TRUE. First Midwest Bank Trust Division acquired a new position in shares of TrueCar in the 3rd quarter worth approximately $429,000. First Trust Advisors LP grew its position in TrueCar by 3.8% during the third quarter. First Trust Advisors LP now owns 2,851,218 shares of the technology company’s stock valued at $45,021,000 after buying an additional 104,381 shares during the period. Fox Run Management L.L.C. purchased a new stake in TrueCar during the third quarter valued at about $275,000. Fondren Management LP purchased a new stake in TrueCar during the second quarter valued at about $598,000. Finally, Lord Abbett & CO. LLC purchased a new stake in TrueCar during the second quarter valued at about $24,096,000. 91.28% of the stock is currently owned by institutional investors.

In other news, EVP Neeraj Gunsagar sold 1,882 shares of the stock in a transaction on Monday, October 16th. The stock was 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 accessible through this hyperlink. Also, Director Robert Buce sold 32,999 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $16.52, for a total value of $545,143.48. Following the transaction, the director now directly owns 181,558 shares in the company, valued at approximately $2,999,338.16. The disclosure for this sale can be found here. Insiders have sold a total of 490,669 shares of company stock worth $8,168,936 in the last three months. Corporate insiders own 15.50% of the company’s stock.

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A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.00 target price (up from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 price target on shares of TrueCar in a report on Friday, August 4th. B. Riley reiterated a “buy” rating and issued a $21.00 price target on shares of TrueCar in a report on Wednesday, August 9th. Cowen and Company reissued 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 “hold” rating to a “sell” rating in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. TrueCar presently has an average rating of “Hold” and a consensus target price of $17.44.

TrueCar, Inc. (NASDAQ TRUE) traded up $0.13 on Wednesday, hitting $11.11. The stock had a trading volume of 1,422,200 shares, compared to its average volume of 1,555,334. TrueCar, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $21.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.31 and a current ratio of 6.31.

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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Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

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