State Street Corp Raises Position in TrueCar, Inc. (NASDAQ:TRUE)

State Street Corp boosted its position in TrueCar, Inc. (NASDAQ:TRUE) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,790,659 shares of the technology company’s stock after buying an additional 16,127 shares during the quarter. State Street Corp’s holdings in TrueCar were worth $6,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in TrueCar in the 3rd quarter valued at about $36,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TrueCar during the 3rd quarter valued at approximately $43,000. SG Americas Securities LLC boosted its holdings in TrueCar by 126.5% in the 3rd quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock worth $120,000 after buying an additional 19,349 shares during the period. BNP Paribas Financial Markets boosted its holdings 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 buying an additional 8,027 shares during the period. Finally, Squarepoint Ops LLC grew its stake in TrueCar by 182.5% in the 2nd quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock valued at $261,000 after buying an additional 53,965 shares in the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TRUE shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of TrueCar in a report on Tuesday, November 26th. B. Riley raised their target price on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded TrueCar from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. 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 target price on the stock. Finally, BTIG Research lifted their price objective on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.88.

TrueCar Stock Performance

NASDAQ:TRUE opened at $3.77 on Friday. The firm has a market cap of $327.83 million, a PE ratio of -13.00 and a beta of 1.75. The business has a 50 day moving average price of $4.06 and a 200-day moving average price of $3.50. TrueCar, Inc. has a fifty-two week low of $2.56 and a fifty-two week high of $4.62.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.06) EPS 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 firm had revenue of $46.54 million for the quarter, compared to analysts’ expectations of $45.82 million. During the same period in the prior year, the business posted ($0.07) EPS. Research analysts predict that TrueCar, Inc. will post -0.3 EPS for the current year.

TrueCar 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.