Allianz Asset Management AG continued to hold its stake in shares of TrueCar Inc (NASDAQ:TRUE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,875 shares of the technology company’s stock at the end of the fourth quarter. Allianz Asset Management AG’s holdings in TrueCar were worth $448,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in TRUE. Wells Fargo & Company MN increased its stake in shares of TrueCar by 7.4% in the third quarter. Wells Fargo & Company MN now owns 196,804 shares of the technology company’s stock worth $1,858,000 after buying an additional 13,537 shares during the last quarter. Quantitative Investment Management LLC increased its stake in shares of TrueCar by 219.9% in the third quarter. Quantitative Investment Management LLC now owns 54,700 shares of the technology company’s stock worth $516,000 after buying an additional 37,600 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of TrueCar during the third quarter worth about $467,000. Spark Investment Management LLC purchased a new stake in shares of TrueCar during the third quarter worth about $607,000. Finally, Senvest Management LLC increased its stake in shares of TrueCar by 95.4% in the third quarter. Senvest Management LLC now owns 2,938,634 shares of the technology company’s stock worth $27,741,000 after buying an additional 1,435,053 shares during the last quarter. 63.62% of the stock is currently owned by hedge funds and other institutional investors.
TrueCar Inc (NASDAQ:TRUE) traded down 0.39% on Friday, hitting $15.26. 1,505,443 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $14.86 and a 200-day moving average price of $12.76. The stock’s market cap is $1.32 billion. TrueCar Inc has a 12 month low of $5.71 and a 12 month high of $15.96.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Thursday, February 16th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The business earned $74.08 million during the quarter, compared to analysts’ expectations of $71.31 million. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. Equities analysts predict that TrueCar Inc will post ($0.02) earnings per share for the current fiscal year.
TRUE has been the topic of a number of recent analyst reports. B. Riley reissued a “buy” rating and issued a $14.50 price target on shares of TrueCar in a report on Saturday, December 24th. Zacks Investment Research downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. JMP Securities raised shares of TrueCar from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Monday, January 9th. Royal Bank of Canada raised shares of TrueCar from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $17.00 in a research note on Monday, February 6th. Finally, Cowen and Company raised their target price on shares of TrueCar from $8.00 to $10.00 and gave the company a “market perform” rating in a research note on Tuesday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. TrueCar currently has a consensus rating of “Buy” and a consensus price target of $13.59.
In related news, EVP Neeraj Gunsagar sold 25,571 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $14.70, for a total value of $375,893.70. Following the completion of the sale, the executive vice president now directly owns 315,181 shares of the company’s stock, valued at approximately $4,633,160.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.30% of the stock is owned by corporate insiders.
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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