State Street Corp Has $6.18 Million Stock Position in TrueCar, Inc. (NASDAQ:TRUE)

State Street Corp boosted its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,790,659 shares of the technology company’s stock after acquiring an additional 16,127 shares during the quarter. State Street Corp owned 2.06% of TrueCar worth $6,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TRUE. Intech Investment Management LLC acquired a new position in TrueCar in the third quarter worth approximately $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of TrueCar during the third quarter worth approximately $43,000. SG Americas Securities LLC boosted its holdings in TrueCar by 126.5% in the 3rd quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock valued at $120,000 after purchasing an additional 19,349 shares during the period. BNP Paribas Financial Markets grew its position in TrueCar by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after buying an additional 8,027 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of TrueCar by 182.5% during the second quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock valued at $261,000 after purchasing an additional 53,965 shares during the period. Hedge funds and other institutional investors own 79.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TRUE. B. Riley boosted their price target on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. BTIG Research lifted their target price on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Lake Street Capital started coverage on shares of TrueCar in a research note on Monday, October 7th. They set a “buy” rating and a $6.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of TrueCar in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.88.

TrueCar Trading Down 4.1 %

TrueCar stock opened at $3.77 on Friday. The company has a market capitalization of $327.83 million, a price-to-earnings ratio of -13.00 and a beta of 1.75. TrueCar, Inc. has a 12 month low of $2.56 and a 12 month high of $4.62. The stock’s 50 day moving average is $4.06 and its 200-day moving average is $3.50.

TrueCar (NASDAQ:TRUE) last issued its earnings results 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 business had revenue of $46.54 million during the quarter, compared to analyst estimates of $45.82 million. TrueCar had a negative net margin of 15.88% and a negative return on equity of 14.33%. During the same period in the prior year, the business posted ($0.07) EPS. As a group, equities research 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.