Barclays PLC Boosts Stock Position in TrueCar, Inc. (NASDAQ:TRUE)

Barclays PLC increased its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 169.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,062 shares of the technology company’s stock after buying an additional 81,745 shares during the period. Barclays PLC owned about 0.15% of TrueCar worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TRUE. Jane Street Group LLC boosted its holdings in TrueCar by 19.4% in the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock worth $344,000 after buying an additional 16,163 shares during the last quarter. State Street Corp lifted its position in shares of TrueCar by 0.9% in the third quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after acquiring an additional 16,127 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of TrueCar by 15.2% in the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after acquiring an additional 8,027 shares during the last quarter. FMR LLC increased its position in shares of TrueCar by 23.7% during the third quarter. FMR LLC now owns 380,636 shares of the technology company’s stock worth $1,313,000 after purchasing an additional 73,041 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in TrueCar in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 79.44% of the company’s stock.

Wall Street Analyst Weigh In

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

TrueCar Price Performance

Shares of TRUE stock opened at $3.49 on Friday. The firm’s 50-day moving average is $4.06 and its two-hundred day moving average is $3.52. TrueCar, Inc. has a 12 month low of $2.56 and a 12 month high of $4.62. The company has a market capitalization of $303.48 million, a PE ratio of -12.03 and a beta of 1.78.

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

TrueCar Company 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.