TrueCar Inc (TRUE) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System boosted its position in shares of TrueCar Inc (NASDAQ:TRUE) by 300.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,236 shares of the technology company’s stock after buying an additional 61,698 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of TrueCar worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRUE. Morgan Stanley raised its position in shares of TrueCar by 6.3% in the third quarter. Morgan Stanley now owns 7,029,769 shares of the technology company’s stock worth $66,360,000 after buying an additional 419,322 shares in the last quarter. Senvest Management LLC raised its position 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 in the last quarter. SG Capital Management LLC purchased a new position in shares of TrueCar during the third quarter worth $7,621,000. Wells Fargo & Company MN raised its position 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 in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of TrueCar during the fourth quarter worth $1,941,000. 63.62% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

Shares of TrueCar Inc (NASDAQ:TRUE) traded down 0.26% during trading on Friday, hitting $15.28. The company’s stock had a trading volume of 664,838 shares. The company 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 one year low of $5.71 and a one year high of $15.96.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Thursday, February 16th. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $74.08 million for the quarter, compared to the consensus estimate of $71.31 million. TrueCar had a negative net margin of 22.92% and a negative return on equity of 22.29%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. Equities analysts predict that TrueCar Inc will post ($0.02) EPS for the current fiscal year.

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TRUE has been the topic of a number of recent research reports. Citigroup Inc initiated coverage on TrueCar in a research note on Monday, March 27th. They issued a “buy” rating and a $18.00 target price on the stock. B. Riley restated a “buy” rating and issued a $14.50 target price on shares of TrueCar in a research note on Friday, January 13th. Loop Capital restated a “buy” rating and issued a $18.00 target price on shares of TrueCar in a research note on Tuesday, February 21st. Royal Bank of Canada upgraded TrueCar from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $12.00 to $17.00 in a research report on Monday, February 6th. Finally, JMP Securities upgraded TrueCar from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $13.59.

In related news, EVP Neeraj Gunsagar sold 25,571 shares of TrueCar stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $14.70, for a total value of $375,893.70. Following the transaction, the executive vice president now owns 315,181 shares in the company, valued at approximately $4,633,160.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.30% of the company’s stock.

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.

5 Day Chart for NASDAQ:TRUE

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