TrueCar Inc (NASDAQ:TRUE) shares reached a new 52-week low during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $6.73 and last traded at $6.76, with a volume of 491778 shares trading hands. The stock had previously closed at $6.84.

Specifically, EVP Robert Mcclung sold 7,736 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $6.90, for a total transaction of $53,378.40. Following the sale, the executive vice president now owns 105,070 shares in the company, valued at $724,983. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 9,070 shares of company stock worth $65,756. 5.60% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on TRUE shares. Zacks Investment Research upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Goldman Sachs Group reiterated a “sell” rating and set a $6.00 price objective (down previously from $7.00) on shares of TrueCar in a research note on Monday. Craig Hallum lowered shares of TrueCar from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research note on Friday, February 15th. Royal Bank of Canada lowered shares of TrueCar from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $12.00 to $9.00 in a research note on Friday, February 15th. Finally, ValuEngine lowered shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $10.45.

The company has a market cap of $717.40 million, a P/E ratio of -25.81 and a beta of 2.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.15 and a current ratio of 6.15.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Thursday, February 14th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). TrueCar had a negative net margin of 8.01% and a negative return on equity of 7.85%. The firm had revenue of $91.10 million during the quarter, compared to analyst estimates of $96.03 million. During the same quarter in the previous year, the business posted $0.05 EPS. TrueCar’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts forecast that TrueCar Inc will post -0.23 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its stake in shares of TrueCar by 295.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock valued at $101,000 after purchasing an additional 5,911 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of TrueCar in the fourth quarter valued at approximately $92,000. Amalgamated Bank bought a new position in shares of TrueCar in the fourth quarter valued at approximately $126,000. Legal & General Group Plc boosted its holdings in shares of TrueCar by 29.0% in the third quarter. Legal & General Group Plc now owns 33,327 shares of the technology company’s stock valued at $470,000 after acquiring an additional 7,502 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of TrueCar by 19.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 43,537 shares of the technology company’s stock valued at $614,000 after acquiring an additional 6,980 shares in the last quarter. Institutional investors own 94.49% of the company’s stock.

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TrueCar Company Profile (NASDAQ:TRUE)

TrueCar, Inc engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The company products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car.

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