TrueCar, Inc. (TRUE) Shares Sold by black and white Capital LP
black and white Capital LP lowered its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 81.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,000 shares of the technology company’s stock after selling 775,000 shares during the period. TrueCar accounts for 0.7% of black and white Capital LP’s investment portfolio, making the stock its 19th biggest holding. black and white Capital LP owned approximately 0.18% of TrueCar worth $3,488,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of TRUE. Caledonia Private Investments Pty Ltd increased its stake in shares of TrueCar by 143.2% during the 1st quarter. Caledonia Private Investments Pty Ltd now owns 4,629,739 shares of the technology company’s stock worth $71,622,000 after purchasing an additional 2,725,970 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of TrueCar during the 2nd quarter worth approximately $49,825,000. Vanguard Group Inc. increased its stake 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 purchasing an additional 2,004,642 shares during the last quarter. Calixto Global Investors LP purchased a new stake in shares of TrueCar during the 2nd quarter worth approximately $29,373,000. Finally, Park West Asset Management LLC purchased a new stake in shares of TrueCar during the 1st quarter worth approximately $15,506,000. Institutional investors own 91.71% of the company’s stock.
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Shares of TrueCar, Inc. (NASDAQ:TRUE) traded down 1.66% on Friday, reaching $16.00. 441,274 shares of the company’s stock traded hands. The stock’s market cap is $1.58 billion. TrueCar, Inc. has a 52-week low of $8.47 and a 52-week high of $21.75. The firm’s 50-day moving average is $16.33 and its 200-day moving average is $17.35.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $81.82 million during the quarter, compared to analysts’ expectations of $80.75 million. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.00%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. Analysts anticipate that TrueCar, Inc. will post $0.02 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on TRUE shares. B. Riley restated a “buy” rating and set a $21.50 price target on shares of TrueCar in a research note on Sunday, June 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 price objective on shares of TrueCar in a research note on Friday, August 4th. Morgan Stanley upgraded shares of TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective for the company in a research note on Monday. Zacks Investment Research lowered shares of TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Cowen and Company reiterated a “hold” rating and issued a $15.00 price objective on shares of TrueCar in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.50.
In related news, CFO Michael Guthrie sold 322,865 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $19.12, for a total transaction of $6,173,178.80. Following the completion of the transaction, the chief financial officer now directly owns 359,847 shares of the company’s stock, valued at $6,880,274.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeff Swart sold 34,863 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.82, for a total transaction of $690,984.66. Following the transaction, the executive vice president now directly owns 99,084 shares of the company’s stock, valued at $1,963,844.88. The disclosure for this sale can be found here. Insiders have sold 2,011,936 shares of company stock valued at $37,176,200 over the last ninety days. 15.50% of the stock is currently owned by corporate insiders.
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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