BNP Paribas Financial Markets Has $210,000 Stock Holdings in TrueCar, Inc. (NASDAQ:TRUE)

BNP Paribas Financial Markets boosted its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,942 shares of the technology company’s stock after buying an additional 8,027 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of TrueCar worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TRUE. Assenagon Asset Management S.A. acquired a new position in TrueCar in the 2nd quarter valued at approximately $210,000. Bank of New York Mellon Corp increased its stake in shares of TrueCar by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 332,775 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 34,045 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of TrueCar by 0.6% during the second quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company’s stock worth $6,671,000 after acquiring an additional 12,956 shares in the last quarter. ClariVest Asset Management LLC boosted its position in TrueCar by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 253,474 shares of the technology company’s stock valued at $793,000 after purchasing an additional 7,088 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in TrueCar by 11.7% in the second quarter. American Century Companies Inc. now owns 104,371 shares of the technology company’s stock valued at $327,000 after purchasing an additional 10,900 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors and hedge funds.

TrueCar Price Performance

Shares of TrueCar stock opened at $4.28 on Tuesday. The firm has a market capitalization of $372.18 million, a PE ratio of -14.76 and a beta of 1.75. The company’s fifty day moving average price is $4.02 and its two-hundred day moving average price is $3.44. TrueCar, Inc. has a 52-week low of $2.56 and a 52-week high of $4.62.

TrueCar (NASDAQ:TRUE) last issued its earnings results on Wednesday, November 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 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) earnings per share. Analysts predict that TrueCar, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRUE has been the subject of several research reports. StockNews.com upgraded TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. 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. B. Riley upped their price target on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Lake Street Capital started coverage on shares of TrueCar in a report on Monday, October 7th. They set a “buy” rating and a $6.00 price objective for the company. Finally, BTIG Research raised their target price on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, TrueCar currently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

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.