Robert Buce Sells 40,100 Shares of TrueCar Inc. (TRUE) Stock
TrueCar Inc. (NASDAQ:TRUE) Director Robert Buce sold 40,100 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $12.61, for a total value of $505,661.00. Following the sale, the director now directly owns 295,305 shares in the company, valued at approximately $3,723,796.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of TrueCar Inc. (NASDAQ:TRUE) opened at 12.11 on Wednesday. TrueCar Inc. has a 52 week low of $4.42 and a 52 week high of $13.07. The firm’s 50 day moving average is $10.68 and its 200-day moving average is $9.16. The firm’s market cap is $1.03 billion.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. TrueCar had a negative net margin of 22.92% and a negative return on equity of 22.29%. The company earned $75.01 million during the quarter, compared to the consensus estimate of $71.17 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that TrueCar Inc. will post ($0.17) EPS for the current year.
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TRUE has been the topic of several recent research reports. Zacks Investment Research upgraded shares of TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, August 3rd. RBC Capital Markets restated a “sector perform” rating and issued a $12.00 price target (up previously from $10.00) on shares of TrueCar in a research report on Monday, November 7th. B. Riley upgraded shares of TrueCar to a “neutral” rating and set a $9.50 price target on the stock in a research report on Sunday, September 4th. Craig Hallum upgraded shares of TrueCar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $14.00 in a research report on Friday, November 4th. Finally, Loop Capital upgraded shares of TrueCar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a research report on Friday, November 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. TrueCar currently has an average rating of “Buy” and an average price target of $9.37.
Large investors have recently modified their holdings of the company. Caledonia Private Investments Pty Ltd bought a new stake in shares of TrueCar during the second quarter valued at about $14,193,000. Senvest Management LLC increased its position in TrueCar by 95.4% in the third quarter. Senvest Management LLC now owns 2,938,634 shares of the company’s stock worth $27,741,000 after buying an additional 1,435,053 shares during the period. SG Capital Management LLC acquired a new position in TrueCar during the third quarter worth $7,621,000. Morgan Stanley increased its position in TrueCar by 6.3% in the third quarter. Morgan Stanley now owns 7,029,769 shares of the company’s stock worth $66,360,000 after buying an additional 419,322 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in TrueCar by 11.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,475,689 shares of the company’s stock worth $13,931,000 after buying an additional 148,235 shares during the period. 63.26% of the stock is owned by institutional investors.
TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. 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 enterprises.
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