Geode Capital Management LLC Has $6.75 Million Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Geode Capital Management LLC boosted its position in TrueCar, Inc. (NASDAQ:TRUE) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,955,226 shares of the technology company’s stock after purchasing an additional 71,508 shares during the period. Geode Capital Management LLC’s holdings in TrueCar were worth $6,747,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Bank of Montreal Can raised its position in shares of TrueCar by 769.9% in the 2nd quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock worth $1,319,000 after acquiring an additional 368,234 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of TrueCar by 151.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 168,600 shares of the technology company’s stock valued at $582,000 after purchasing an additional 101,459 shares in the last quarter. Barclays PLC grew its stake in 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 purchasing an additional 81,745 shares during the period. FMR LLC increased its holdings in TrueCar by 23.7% in the third 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. Finally, Squarepoint Ops LLC lifted its stake in 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 buying an additional 53,965 shares during the period. Institutional investors own 79.44% of the company’s stock.

TrueCar Trading Down 0.3 %

Shares of TRUE stock opened at $3.49 on Friday. The firm has a fifty day simple moving average of $4.06 and a two-hundred day simple moving average of $3.52. TrueCar, Inc. has a 12 month low of $2.56 and a 12 month high of $4.62. The firm has a market capitalization of $303.48 million, a PE ratio of -12.03 and a beta of 1.78.

TrueCar (NASDAQ:TRUE) last posted its earnings results 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 return on equity of 14.33% and a negative net margin of 15.88%. The business had revenue of $46.54 million for the quarter, compared to the consensus estimate of $45.82 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. On average, equities analysts predict that TrueCar, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on TRUE shares. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of TrueCar in a research report on Tuesday, November 26th. Lake Street Capital assumed coverage on shares of TrueCar in a report on Monday, October 7th. They issued a “buy” rating and a $6.00 price target for the company. B. Riley upped their price objective on shares of TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a report on Monday, November 11th. StockNews.com raised shares of TrueCar from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, BTIG Research boosted their target price on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.88.

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.