Wasatch Advisors Inc. lifted its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 812.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,405,517 shares of the technology company’s stock after purchasing an additional 2,141,897 shares during the quarter. Wasatch Advisors Inc. owned 2.59% of TrueCar worth $37,983,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Caledonia Private Investments Pty Ltd boosted its position in shares of TrueCar by 158.6% during the second 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 during the last quarter. Vanguard Group Inc. raised its stake 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 purchasing an additional 2,004,642 shares during the period. EastBay Asset Management LLC raised its stake in TrueCar by 94.7% during the 2nd quarter. EastBay Asset Management LLC now owns 2,894,876 shares of the technology company’s stock valued at $57,695,000 after purchasing an additional 1,408,301 shares during the period. First Trust Advisors LP raised its stake in TrueCar by 3.8% during the 3rd quarter. First Trust Advisors LP now owns 2,851,218 shares of the technology company’s stock valued at $45,021,000 after purchasing an additional 104,381 shares during the period. Finally, Steadfast Capital Management LP bought a new stake in TrueCar in the 2nd quarter worth approximately $56,303,000. 92.17% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Neeraj Gunsagar sold 10,442 shares of TrueCar stock in a transaction on Monday, September 18th. The stock was sold at an average price of $16.56, for a total value of $172,919.52. Following the completion of the transaction, the executive vice president now directly owns 283,508 shares in the company, valued at $4,694,892.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Pierantoni sold 2,633 shares of TrueCar stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $15.87, for a total value of $41,785.71. Following the completion of the transaction, the senior vice president now owns 63,027 shares of the company’s stock, valued at $1,000,238.49. The disclosure for this sale can be found here. Insiders sold 20,017 shares of company stock valued at $326,288 over the last quarter. 15.50% of the stock is currently owned by company insiders.
TrueCar, Inc. (NASDAQ TRUE) traded up $0.48 during trading hours on Thursday, hitting $11.79. The company had a trading volume of 586,049 shares, compared to its average volume of 1,534,922. TrueCar, Inc. has a 12-month low of $10.16 and a 12-month high of $21.75. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.09.
A number of analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating and issued a $21.00 price objective on shares of TrueCar in a research note on Wednesday, August 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $23.00 target price (up from $22.00) on shares of TrueCar in a research report on Thursday, August 10th. Cowen reaffirmed a “hold” rating and set a $15.00 target price on shares of TrueCar in a research report on Thursday, August 17th. Zacks Investment Research lowered TrueCar from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Finally, Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price target on the stock in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. TrueCar has a consensus rating of “Hold” and an average price target of $17.44.
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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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