TrueCar (TRUE) Stock Rating Reaffirmed by B. Riley
B. Riley restated their buy rating on shares of TrueCar (NASDAQ:TRUE) in a research report report published on Wednesday morning. They currently have a $18.00 price target on the technology company’s stock.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised TrueCar from a sell rating to a hold rating in a report on Thursday, January 11th. ValuEngine lowered TrueCar from a hold rating to a sell rating in a report on Tuesday, November 7th. Morgan Stanley raised TrueCar from an underweight rating to an equal weight rating and set a $13.00 price objective for the company in a report on Monday, October 2nd. Royal Bank of Canada decreased their price objective on TrueCar from $23.00 to $18.00 and set an outperform rating for the company in a report on Tuesday, November 7th. Finally, Goldman Sachs Group reissued a neutral rating and issued a $17.00 price objective on shares of TrueCar in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $17.50.
Shares of TrueCar (NASDAQ TRUE) opened at $12.28 on Wednesday. The company has a market capitalization of $1,190.84, a price-to-earnings ratio of -34.11 and a beta of 2.71. TrueCar has a 52 week low of $10.16 and a 52 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.
In other TrueCar news, EVP Neeraj Gunsagar sold 10,443 shares of TrueCar stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $11.28, for a total transaction of $117,797.04. Following the completion of the transaction, the executive vice president now owns 254,144 shares of the company’s stock, valued at approximately $2,866,744.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Pierantoni sold 2,494 shares of TrueCar stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the transaction, the senior vice president now directly owns 57,513 shares of the company’s stock, valued at approximately $649,321.77. The disclosure for this sale can be found here. In the last three months, insiders sold 15,670 shares of company stock valued at $177,654. 15.50% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of TRUE. Caledonia Private Investments Pty Ltd grew its holdings in TrueCar by 158.6% during the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock valued at $238,607,000 after buying an additional 7,342,518 shares in the last quarter. Steadfast Capital Management LP purchased a new position in TrueCar during the 2nd quarter valued at about $56,303,000. Wasatch Advisors Inc. grew its holdings in TrueCar by 812.5% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,405,517 shares of the technology company’s stock valued at $37,983,000 after buying an additional 2,141,897 shares in the last quarter. Vanguard Group Inc. grew its holdings in TrueCar by 43.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after buying an additional 2,004,642 shares in the last quarter. Finally, Calixto Global Investors LP purchased a new position in TrueCar during the 2nd quarter valued at about $29,373,000. 92.70% of the stock is owned by institutional investors and hedge funds.
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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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