TrueCar, Inc. (NASDAQ:TRUE) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its holdings in TrueCar, Inc. (NASDAQ:TRUE) by 11.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 358,291 shares of the technology company’s stock after selling 45,493 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in TrueCar were worth $1,236,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of TrueCar by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock worth $14,497,000 after purchasing an additional 41,592 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of TrueCar by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,253,582 shares of the technology company’s stock worth $10,183,000 after purchasing an additional 25,541 shares in the last quarter. Acadian Asset Management LLC boosted its position in TrueCar by 0.6% during the second quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company’s stock worth $6,671,000 after acquiring an additional 12,956 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of TrueCar by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company’s stock worth $6,647,000 after buying an additional 6,800 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in TrueCar by 769.9% in the second quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock valued at $1,319,000 after acquiring an additional 368,234 shares during the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on TRUE shares. B. Riley boosted their target price on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Lake Street Capital initiated coverage on shares of TrueCar in a report on Monday, October 7th. They set a “buy” rating and a $6.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of TrueCar in a report on Tuesday, November 26th. BTIG Research increased their price target on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised TrueCar from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, TrueCar presently has an average rating of “Moderate Buy” and a consensus target price of $4.88.

TrueCar Stock Performance

TRUE opened at $4.16 on Monday. The business’s 50-day simple moving average is $3.90 and its 200-day simple moving average is $3.38. The company has a market cap of $361.75 million, a P/E ratio of -14.34 and a beta of 1.75. TrueCar, Inc. has a one year low of $2.56 and a one year high of $4.62.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $46.54 million for the quarter, compared to analyst estimates of $45.82 million. TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. During the same period in the previous year, the business posted ($0.07) EPS. As a group, analysts predict that TrueCar, Inc. will post -0.3 earnings per share for the current fiscal year.

TrueCar Profile

TrueCar, Inc 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. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.