CIBC World Markets Inc. Buys Shares of 27,741 TrueCar, Inc. (TRUE)

CIBC World Markets Inc. bought a new position in TrueCar, Inc. (NASDAQ:TRUE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,741 shares of the technology company’s stock, valued at approximately $553,000.

A number of other hedge funds have also bought and sold shares of the business. UBS Group AG grew its position in TrueCar by 1.9% in the first quarter. UBS Group AG now owns 6,929,950 shares of the technology company’s stock worth $107,207,000 after acquiring an additional 131,006 shares in the last quarter. Caledonia Private Investments Pty Ltd grew its position in TrueCar by 143.2% in the first quarter. Caledonia Private Investments Pty Ltd now owns 4,629,739 shares of the technology company’s stock worth $71,622,000 after acquiring an additional 2,725,970 shares in the last quarter. Vanguard Group Inc. grew its position in TrueCar by 17.0% in the first quarter. Vanguard Group Inc. now owns 4,570,225 shares of the technology company’s stock worth $70,701,000 after acquiring an additional 665,176 shares in the last quarter. First Trust Advisors LP grew its position in TrueCar by 18.4% in the second quarter. First Trust Advisors LP now owns 2,746,837 shares of the technology company’s stock worth $54,744,000 after acquiring an additional 427,025 shares in the last quarter. Finally, State Street Corp grew its position in TrueCar by 3.3% in the first quarter. State Street Corp now owns 1,004,133 shares of the technology company’s stock worth $15,532,000 after acquiring an additional 32,373 shares in the last quarter. 91.71% of the stock is owned by institutional investors.

In other TrueCar news, SVP John Pierantoni sold 55,895 shares of TrueCar stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.81, for a total transaction of $1,107,279.95. Following the completion of the transaction, the senior vice president now directly owns 125,767 shares of the company’s stock, valued at $2,491,444.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeff Swart sold 34,863 shares of TrueCar stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $19.82, for a total transaction of $690,984.66. Following the transaction, the executive vice president now directly owns 99,084 shares of the company’s stock, valued at $1,963,844.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,993,801 shares of company stock valued at $36,878,556. Company insiders own 15.50% of the company’s stock.

TrueCar, Inc. (NASDAQ:TRUE) opened at 16.54 on Tuesday. The company’s 50-day moving average is $17.10 and its 200 day moving average is $17.30. The firm’s market capitalization is $1.63 billion. TrueCar, Inc. has a 1-year low of $8.47 and a 1-year high of $21.75.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.00%. The firm had revenue of $81.82 million during the quarter, compared to analysts’ expectations of $80.75 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities analysts expect that TrueCar, Inc. will post $0.02 EPS for the current fiscal year.

Several analysts have commented on TRUE shares. Zacks Investment Research downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 target price (up from $22.00) on shares of TrueCar in a research report on Thursday, August 10th. Morgan Stanley reissued an “underweight” rating and issued a $13.00 target price (up from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. Cowen and Company reissued a “hold” rating and issued a $15.00 target price on shares of TrueCar in a research report on Thursday, August 17th. Finally, B. Riley reissued a “buy” rating and issued a $21.00 target price on shares of TrueCar in a research report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $18.56.

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TrueCar Company Profile

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.

Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

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