TrueCar Inc (NASDAQ:TRUE) EVP Neeraj Gunsagar sold 26,335 shares of the business’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $11.00, for a total transaction of $289,685.00. Following the sale, the executive vice president now directly owns 207,327 shares of the company’s stock, valued at approximately $2,280,597. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of TrueCar opened at $10.87 on Friday, according to Marketbeat. TrueCar Inc has a 12-month low of $8.75 and a 12-month high of $21.75. The stock has a market cap of $1.06 billion, a P/E ratio of -40.26 and a beta of 2.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.14 and a quick ratio of 7.14.
Get TrueCar alerts:TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. TrueCar had a negative net margin of 10.69% and a negative return on equity of 8.62%. The company had revenue of $81.06 million during the quarter, compared to analysts’ expectations of $81.36 million. During the same quarter in the prior year, the company earned ($0.01) EPS. TrueCar’s revenue was up 7.0% compared to the same quarter last year. equities analysts forecast that TrueCar Inc will post -0.27 earnings per share for the current year.
TRUE has been the subject of a number of research reports. Goldman Sachs Group cut shares of TrueCar from a “neutral” rating to a “sell” rating and cut their target price for the stock from $11.00 to $9.00 in a research note on Thursday, June 7th. Benchmark initiated coverage on shares of TrueCar in a research note on Thursday, March 22nd. They set a “buy” rating and a $18.00 target price for the company. JPMorgan Chase & Co. cut shares of TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 22nd. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. Finally, DA Davidson assumed coverage on shares of TrueCar in a research note on Wednesday, April 4th. They set a “neutral” rating and a $9.75 target price for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.84.
A number of hedge funds and other institutional investors have recently made changes to their positions in TRUE. 683 Capital Management LLC purchased a new stake in TrueCar during the 4th quarter valued at about $18,603,000. Harvest Capital Strategies LLC purchased a new stake in TrueCar during the 4th quarter valued at about $10,686,000. Discovery Capital Management LLC CT purchased a new stake in TrueCar during the 4th quarter valued at about $9,109,000. Ontario Teachers Pension Plan Board boosted its holdings in TrueCar by 16.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 5,250,000 shares of the technology company’s stock valued at $49,665,000 after purchasing an additional 750,000 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in TrueCar by 51.0% in the 1st quarter. Millennium Management LLC now owns 1,495,661 shares of the technology company’s stock valued at $14,149,000 after purchasing an additional 505,158 shares during the last quarter. 89.78% of the stock is owned by institutional investors.
TrueCar Company Profile
TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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