Swiss National Bank lifted its holdings in shares of TrueCar Inc (NASDAQ:TRUE) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,900 shares of the technology company’s stock after purchasing an additional 12,700 shares during the period. Swiss National Bank owned 0.15% of TrueCar worth $846,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in TrueCar by 128.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,072,659 shares of the technology company’s stock valued at $9,719,000 after buying an additional 602,448 shares during the period. Acadian Asset Management LLC acquired a new position in TrueCar in the first quarter valued at $409,000. Alambic Investment Management L.P. acquired a new position in TrueCar in the first quarter valued at $377,000. Marshall Wace LLP acquired a new position in TrueCar in the first quarter valued at $352,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in TrueCar by 5.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 48,062 shares of the technology company’s stock valued at $319,000 after buying an additional 2,436 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.
Shares of NASDAQ TRUE traded down $0.10 during trading on Thursday, hitting $4.21. 34,183 shares of the company traded hands, compared to its average volume of 1,557,625. The business’s fifty day moving average is $4.26 and its 200 day moving average is $5.72. TrueCar Inc has a fifty-two week low of $3.01 and a fifty-two week high of $14.55. The firm has a market capitalization of $434.30 million, a price-to-earnings ratio of -16.21 and a beta of 1.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.09 and a current ratio of 3.09.
Several equities analysts recently issued reports on the stock. Citigroup dropped their target price on shares of TrueCar from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Needham & Company LLC assumed coverage on shares of TrueCar in a report on Thursday. They issued a “hold” rating on the stock. Cowen set a $5.00 target price on shares of TrueCar and gave the company a “hold” rating in a report on Friday, August 9th. ValuEngine upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TheStreet lowered shares of TrueCar from a “c-” rating to a “d” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.71.
In other news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $5.41, for a total transaction of $41,489.29. Following the completion of the sale, the executive vice president now directly owns 121,744 shares of the company’s stock, valued at $658,635.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.00% of the company’s stock.
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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