New York State Common Retirement Fund Sells 16,500 Shares of TrueCar, Inc. (NASDAQ:TRUE)

New York State Common Retirement Fund trimmed its stake in TrueCar, Inc. (NASDAQ:TRUE) by 59.4% during the fourth quarter, Holdings Channel reports. The fund owned 11,255 shares of the technology company’s stock after selling 16,500 shares during the quarter. New York State Common Retirement Fund’s holdings in TrueCar were worth $42,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. R Squared Ltd bought a new position in TrueCar in the 4th quarter worth approximately $49,000. Assenagon Asset Management S.A. increased its position in TrueCar by 12.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,144 shares of the technology company’s stock worth $706,000 after buying an additional 20,544 shares during the period. JPMorgan Chase & Co. increased its position in TrueCar by 58.6% in 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. SkyView Investment Advisors LLC increased its position in TrueCar by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 203,695 shares of the technology company’s stock worth $703,000 after buying an additional 3,510 shares during the period. Finally, Barclays PLC increased its position in TrueCar by 169.2% in the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock worth $448,000 after buying an additional 81,745 shares during the period. 79.44% of the stock is owned by institutional investors.

TrueCar Trading Down 3.6 %

Shares of NASDAQ:TRUE opened at $2.16 on Friday. TrueCar, Inc. has a 1-year low of $2.14 and a 1-year high of $4.62. The firm has a market capitalization of $188.47 million, a PE ratio of -6.35 and a beta of 1.75. The business’s 50 day moving average is $3.21 and its 200-day moving average is $3.51.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $46.21 million for 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%. On average, sell-side analysts predict that TrueCar, Inc. will post -0.19 EPS for the current year.

Analyst Ratings Changes

TRUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded TrueCar from an “overweight” rating to a “neutral” rating in a research report on Friday, February 21st. StockNews.com downgraded TrueCar from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. B. Riley lifted their price target on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC decreased their price objective on TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company 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.