Trexquant Investment LP Buys New Stake in TrueCar, Inc. (TRUE)
Trexquant Investment LP bought a new position in shares of TrueCar, Inc. (NASDAQ:TRUE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 45,645 shares of the technology company’s stock, valued at approximately $721,000.
Several other institutional investors also recently bought and sold shares of TRUE. Caledonia Private Investments Pty Ltd grew its position in shares of TrueCar by 158.6% during the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock worth $238,607,000 after buying an additional 7,342,518 shares during the period. Steadfast Capital Management LP acquired a new position in shares of TrueCar during the 2nd quarter worth about $56,303,000. Ontario Teachers Pension Plan Board acquired a new position in shares of TrueCar during the 2nd quarter worth about $49,825,000. Wasatch Advisors Inc. grew its position in shares of TrueCar by 812.5% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,405,517 shares of the technology company’s stock worth $37,983,000 after buying an additional 2,141,897 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of TrueCar by 43.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock worth $131,037,000 after buying an additional 2,004,642 shares during the period. Institutional investors own 92.06% of the company’s stock.
In other news, EVP Neeraj Gunsagar sold 1,882 shares of TrueCar stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $15.22, for a total transaction of $28,644.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP John Pierantoni sold 3,964 shares of TrueCar stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $16.56, for a total value of $65,643.84. Following the transaction, the senior vice president now owns 67,589 shares in the company, valued at approximately $1,119,273.84. The disclosure for this sale can be found here. Insiders have sold a total of 199,369 shares of company stock worth $3,377,066 in the last quarter. 15.50% of the stock is currently owned by company insiders.
TrueCar, Inc. (NASDAQ TRUE) opened at $12.18 on Thursday. TrueCar, Inc. has a 1-year low of $10.16 and a 1-year high of $21.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.31 and a current ratio of 6.31.
Several research firms have recently issued reports on TRUE. B. Riley restated a “buy” rating and set a $21.00 target price on shares of TrueCar in a research report on Monday, October 2nd. Royal Bank Of Canada restated a “buy” rating and set a $22.00 target price on shares of TrueCar in a research report on Friday, August 4th. Cowen restated a “hold” rating and set a $15.00 target price on shares of TrueCar in a research report on Thursday, August 17th. ValuEngine lowered TrueCar from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 target price for the company in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.44.
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TrueCar Company Profile
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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