Raymond James Financial Inc. Purchases Shares of 249,461 TrueCar, Inc. (NASDAQ:TRUE)

Raymond James Financial Inc. acquired a new position in shares of TrueCar, Inc. (NASDAQ:TRUE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 249,461 shares of the technology company’s stock, valued at approximately $930,000. Raymond James Financial Inc. owned approximately 0.29% of TrueCar as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its holdings in TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after purchasing an additional 81,745 shares during the last quarter. FMR LLC raised its position in shares of TrueCar by 23.7% in the third quarter. FMR LLC now owns 380,636 shares of the technology company’s stock valued at $1,313,000 after purchasing an additional 73,041 shares during the period. Geode Capital Management LLC lifted its stake in shares of TrueCar by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock worth $6,747,000 after buying an additional 71,508 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of TrueCar by 58.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,903 shares of the technology company’s stock worth $521,000 after buying an additional 55,731 shares during the period. Finally, Noesis Capital Mangement Corp grew its stake in TrueCar by 25.0% in the 4th quarter. Noesis Capital Mangement Corp now owns 125,000 shares of the technology company’s stock valued at $466,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 79.44% of the company’s stock.

TrueCar Stock Down 6.6 %

TRUE stock opened at $1.41 on Friday. TrueCar, Inc. has a 52 week low of $1.33 and a 52 week high of $4.62. The business has a 50-day simple moving average of $2.49 and a 200 day simple moving average of $3.33. The company has a market cap of $123.03 million, a PE ratio of -4.15 and a beta of 1.72.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $46.21 million for the quarter, compared to the consensus estimate of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. On average, analysts anticipate that TrueCar, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TRUE has been the subject of several research reports. Needham & Company LLC dropped their price target on TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Citigroup downgraded shares of TrueCar to an “underweight” rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut shares of TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, TrueCar presently has a consensus rating of “Hold” and an average target price of $4.63.

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.