Crestline Management LP bought a new stake in shares of TrueCar, Inc. (NASDAQ:TRUE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 203,325 shares of the technology company’s stock, valued at approximately $3,211,000. Crestline Management LP owned 0.20% of TrueCar as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in TrueCar during the 3rd quarter valued at approximately $104,000. Ameritas Investment Partners Inc. increased its position in TrueCar by 15.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after purchasing an additional 734 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in TrueCar during the 3rd quarter valued at approximately $119,000. BNP Paribas Arbitrage SA increased its position in TrueCar by 648.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after purchasing an additional 6,876 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in TrueCar by 185.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,576 shares of the technology company’s stock valued at $210,000 after purchasing an additional 6,873 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Neeraj Gunsagar sold 1,882 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $15.22, for a total transaction of $28,644.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Pierantoni sold 3,964 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $16.56, for a total transaction of $65,643.84. Following the sale, the senior vice president now directly owns 67,589 shares of the company’s stock, valued at approximately $1,119,273.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,017 shares of company stock valued at $326,288. Insiders own 15.50% of the company’s stock.
TRUE has been the subject of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $18.00 target price (down previously from $21.00) on shares of TrueCar in a research report on Tuesday, October 31st. Royal Bank Of Canada reduced their price objective on shares of TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. Zacks Investment Research downgraded shares of TrueCar from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. ValuEngine downgraded shares of TrueCar from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Morgan Stanley raised shares of TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective for the company in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.44.
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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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