Bank of New York Mellon Corp Has $957,000 Stock Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Bank of New York Mellon Corp cut its position in TrueCar, Inc. (NASDAQ:TRUE) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,607 shares of the technology company’s stock after selling 9,326 shares during the quarter. Bank of New York Mellon Corp owned about 0.30% of TrueCar worth $957,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TRUE. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of TrueCar in the 3rd quarter valued at $43,000. Intech Investment Management LLC bought a new stake in shares of TrueCar during the 3rd quarter valued at approximately $36,000. FMR LLC increased its position in TrueCar by 23.7% during the 3rd 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. 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. Finally, State Street Corp boosted its position in 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 buying an additional 16,127 shares in the last quarter. Institutional investors own 79.44% of the company’s stock.

TrueCar Trading Down 2.1 %

Shares of TRUE opened at $1.84 on Wednesday. The stock’s 50-day moving average price is $2.79 and its two-hundred day moving average price is $3.42. TrueCar, Inc. has a 12 month low of $1.68 and a 12 month high of $4.62. The company has a market capitalization of $160.55 million, a PE ratio of -5.41 and a beta of 1.72.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $46.21 million during the quarter, compared to analyst estimates of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. Equities research analysts predict that TrueCar, Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TRUE. Needham & Company LLC lowered their price target on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. StockNews.com cut TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut TrueCar from an “overweight” rating to a “neutral” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, TrueCar currently has an average rating of “Moderate Buy” and an average target price of $4.63.

About TrueCar

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.