TrueCar, Inc. (NASDAQ:TRUE) Stock Position Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in TrueCar, Inc. (NASDAQ:TRUE) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,144 shares of the technology company’s stock after acquiring an additional 20,544 shares during the period. Assenagon Asset Management S.A. owned about 0.22% of TrueCar worth $706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its position in shares of TrueCar by 169.2% during the third quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock worth $448,000 after acquiring an additional 81,745 shares during the last quarter. Bank of Montreal Can lifted its position in TrueCar by 769.9% in the 2nd quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock valued at $1,319,000 after purchasing an additional 368,234 shares during the last quarter. State Street Corp boosted its stake in 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 period. BNP Paribas Financial Markets grew its position in TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after purchasing an additional 8,027 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of TrueCar by 182.5% in 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. 79.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TRUE. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of TrueCar in a research report on Wednesday, January 15th. BTIG Research upped their price objective on shares of TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of TrueCar from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. B. Riley upped their price target on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, Lake Street Capital began coverage on shares of TrueCar in a research note on Monday, October 7th. They set a “buy” rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.88.

TrueCar Stock Up 2.3 %

Shares of NASDAQ TRUE opened at $3.62 on Friday. The stock’s fifty day simple moving average is $3.88 and its 200 day simple moving average is $3.57. The stock has a market capitalization of $314.79 million, a price-to-earnings ratio of -12.48 and a beta of 1.78. TrueCar, Inc. has a 52-week low of $2.56 and a 52-week high of $4.62.

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