Geode Capital Management LLC Acquires 71,508 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Geode Capital Management LLC increased its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,955,226 shares of the technology company’s stock after buying an additional 71,508 shares during the quarter. Geode Capital Management LLC owned 2.25% of TrueCar worth $6,747,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Bank of Montreal Can raised its stake in TrueCar by 769.9% during the second quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock worth $1,319,000 after acquiring an additional 368,234 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TrueCar by 11.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 332,775 shares of the technology company’s stock valued at $1,042,000 after purchasing an additional 34,045 shares during the last quarter. State Street Corp grew its holdings in shares of TrueCar by 0.9% during the 3rd quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after purchasing an additional 16,127 shares during the last quarter. Squarepoint Ops LLC increased its position in TrueCar by 182.5% during the 2nd quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock worth $261,000 after purchasing an additional 53,965 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after purchasing an additional 8,027 shares during the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRUE has been the topic of a number of research reports. BTIG Research boosted 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. B. Riley boosted their price objective on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Lake Street Capital started coverage on TrueCar in a research report on Monday, October 7th. They issued a “buy” rating and a $6.00 target price for the company. StockNews.com raised TrueCar from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of TrueCar in a research note on Tuesday, November 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.88.

TrueCar Stock Down 0.3 %

NASDAQ TRUE opened at $3.49 on Friday. The company has a market capitalization of $303.48 million, a price-to-earnings ratio of -12.03 and a beta of 1.78. TrueCar, Inc. has a twelve month low of $2.56 and a twelve month high of $4.62. The stock has a fifty day simple moving average of $4.06 and a 200 day simple moving average of $3.52.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results 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 net margin of 15.88% and a negative return on equity of 14.33%. The company had revenue of $46.54 million during the quarter, compared to analyst estimates of $45.82 million. During the same period in the previous year, the company posted ($0.07) EPS. Research analysts expect that TrueCar, Inc. will post -0.3 earnings per share for the current fiscal 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.