TrueCar, Inc. (TRUE) Holdings Lifted by Cortina Asset Management LLC
Cortina Asset Management LLC raised its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,965 shares of the technology company’s stock after purchasing an additional 25,109 shares during the period. Cortina Asset Management LLC owned 0.41% of TrueCar worth $6,079,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Teachers Advisors LLC grew its holdings in shares of TrueCar by 18.6% during the 2nd quarter. Teachers Advisors LLC now owns 112,410 shares of the technology company’s stock worth $2,240,000 after acquiring an additional 17,656 shares during the period. Caledonia Private Investments Pty Ltd grew its holdings 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 acquiring an additional 7,342,518 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of TrueCar during the 2nd quarter worth approximately $24,096,000. State Board of Administration of Florida Retirement System grew its holdings in shares of TrueCar by 17.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 108,191 shares of the technology company’s stock worth $2,156,000 after acquiring an additional 16,019 shares during the period. Finally, KCG Holdings Inc. purchased a new position in shares of TrueCar during the 1st quarter worth approximately $259,000. 87.33% of the stock is owned by institutional investors and hedge funds.
In related news, SVP John Pierantoni sold 2,633 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $15.87, for a total value of $41,785.71. Following the sale, the senior vice president now owns 63,027 shares in the company, valued at approximately $1,000,238.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neeraj Gunsagar sold 10,442 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $16.56, for a total value of $172,919.52. Following the completion of the sale, the executive vice president now owns 283,508 shares in the company, valued at approximately $4,694,892.48. The disclosure for this sale can be found here. Insiders sold a total of 261,738 shares of company stock worth $4,404,370 in the last 90 days. 15.50% of the stock is currently owned by company insiders.
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TrueCar, Inc. (NASDAQ:TRUE) traded down $0.05 during trading on Thursday, hitting $11.69. The company had a trading volume of 1,172,900 shares, compared to its average volume of 1,549,583. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.09. TrueCar, Inc. has a 52 week low of $10.16 and a 52 week high of $21.75.
A number of research analysts have weighed in on TRUE shares. Royal Bank Of Canada reduced their target price on TrueCar from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, November 7th. Zacks Investment Research downgraded TrueCar from a “hold” rating to a “sell” rating in a report on Friday, October 6th. B. Riley reiterated a “buy” rating and set a $21.00 target price on shares of TrueCar in a report on Monday, October 2nd. ValuEngine downgraded TrueCar from a “hold” rating to a “sell” rating in a 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 on the stock in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.44.
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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