Insider Selling: TrueCar, Inc. (TRUE) SVP Sells 3,964 Shares of Stock
TrueCar, Inc. (NASDAQ:TRUE) SVP John Pierantoni sold 3,964 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $16.56, for a total value of $65,643.84. Following the completion of the sale, the senior vice president now owns 67,589 shares in the company, valued at $1,119,273.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
John Pierantoni also recently made the following trade(s):
- On Wednesday, July 26th, John Pierantoni sold 55,895 shares of TrueCar stock. The stock was sold at an average price of $19.81, for a total value of $1,107,279.95.
Shares of TrueCar, Inc. (TRUE) traded up 0.54% during midday trading on Tuesday, reaching $16.63. The company’s stock had a trading volume of 509,729 shares. TrueCar, Inc. has a 52 week low of $8.47 and a 52 week high of $21.75. The stock’s market capitalization is $1.64 billion. The stock has a 50-day moving average price of $17.04 and a 200 day moving average price of $17.31.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $81.82 million during the quarter, compared to analysts’ expectations of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. TrueCar’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Equities analysts forecast that TrueCar, Inc. will post $0.02 earnings per share for the current year.
TRUE has been the topic of several recent analyst reports. B. Riley reiterated a “buy” rating and set a $21.50 target price on shares of TrueCar in a research report on Tuesday, June 20th. Zacks Investment Research downgraded TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley reiterated an “underweight” rating and set a $13.00 target price (up from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. Royal Bank of Canada reiterated a “buy” rating and set a $22.00 target price on shares of TrueCar in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a “hold” rating and set a $15.00 target price on shares of TrueCar in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $18.56.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRUE. Teachers Advisors LLC boosted its position in TrueCar by 5.7% during the fourth quarter. Teachers Advisors LLC now owns 92,822 shares of the technology company’s stock valued at $1,160,000 after purchasing an additional 5,030 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in TrueCar by 12.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 92,172 shares of the technology company’s stock valued at $1,426,000 after purchasing an additional 9,936 shares during the last quarter. Bank of New York Mellon Corp boosted its position in TrueCar by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 341,422 shares of the technology company’s stock valued at $5,282,000 after purchasing an additional 14,439 shares during the last quarter. Swiss National Bank boosted its position in TrueCar by 3.3% during the first quarter. Swiss National Bank now owns 77,500 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in TrueCar during the first quarter valued at $167,000. 91.71% of the stock is owned by hedge funds and other institutional investors.
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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