Public Employees Retirement Association of Colorado grew its stake in TrueCar Inc (NASDAQ:TRUE) by 538.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,357 shares of the technology company’s stock after acquiring an additional 14,638 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in TrueCar were worth $245,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of TRUE. Amalgamated Bank purchased a new stake in shares of TrueCar in the second quarter valued at $141,000. Jane Street Group LLC purchased a new stake in shares of TrueCar in the first quarter valued at $170,000. PEAK6 Investments L.P. purchased a new stake in shares of TrueCar in the second quarter valued at $175,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of TrueCar in the third quarter valued at $221,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of TrueCar in the third quarter valued at $266,000. Institutional investors and hedge funds own 95.43% of the company’s stock.
In related news, EVP Jeff Swart sold 9,000 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $12.00, for a total transaction of $108,000.00. Following the transaction, the executive vice president now directly owns 103,366 shares in the company, valued at $1,240,392. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Mcclung sold 7,669 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total value of $103,608.19. Following the transaction, the executive vice president now owns 128,791 shares in the company, valued at $1,739,966.41. The disclosure for this sale can be found here. Insiders have sold 18,167 shares of company stock worth $229,994 over the last quarter. 5.60% of the stock is currently owned by company insiders.
Several analysts have recently issued reports on TRUE shares. DA Davidson set a $13.00 price objective on TrueCar and gave the company a “hold” rating in a research report on Monday, August 13th. ValuEngine upgraded TrueCar from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research downgraded TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. TrueCar has a consensus rating of “Hold” and a consensus price target of $15.57.
NASDAQ TRUE opened at $11.70 on Friday. TrueCar Inc has a twelve month low of $8.75 and a twelve month high of $16.45. The stock has a market cap of $1.14 billion, a P/E ratio of -43.33 and a beta of 2.61. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.09.
TrueCar (NASDAQ:TRUE) last released its earnings results on Thursday, August 9th. The technology company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. TrueCar had a negative return on equity of 8.42% and a negative net margin of 10.07%. The firm had revenue of $87.85 million for the quarter, compared to the consensus estimate of $87.81 million. During the same period in the prior year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that TrueCar Inc will post -0.25 EPS for the current year.
TrueCar Company Profile
TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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