TrueCar (NASDAQ:TRUE) Stock Rating Upgraded by BTIG Research

BTIG Research upgraded shares of TrueCar (NASDAQ:TRUE) from a neutral rating to a buy rating in a research note published on Wednesday morning, Marketbeat Ratings reports. BTIG Research currently has $3.75 target price on the technology company’s stock.

TRUE has been the topic of a number of other research reports. StockNews.com raised TrueCar from a hold rating to a buy rating in a research note on Tuesday, May 14th. Needham & Company LLC cut their price target on shares of TrueCar from $4.00 to $3.75 and set a buy rating on the stock in a research report on Tuesday, August 6th.

TrueCar Stock Up 0.7 %

Shares of TRUE opened at $2.88 on Wednesday. The stock’s fifty day simple moving average is $3.17 and its 200-day simple moving average is $3.23. The firm has a market capitalization of $263.72 million, a PE ratio of -7.20 and a beta of 1.88. TrueCar has a 12-month low of $1.76 and a 12-month high of $4.05.

Institutional Investors Weigh In On TrueCar

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in TrueCar by 0.3% in the second quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company’s stock valued at $6,647,000 after buying an additional 6,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TrueCar by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,253,582 shares of the technology company’s stock valued at $10,183,000 after buying an additional 25,541 shares during the last quarter. American Century Companies Inc. boosted its position in TrueCar by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 104,371 shares of the technology company’s stock worth $327,000 after acquiring an additional 10,900 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in TrueCar by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 253,474 shares of the technology company’s stock worth $793,000 after purchasing an additional 7,088 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in TrueCar by 0.6% in the second quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company’s stock valued at $6,671,000 after purchasing an additional 12,956 shares in the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.

About TrueCar

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.