TrueCar (NASDAQ:TRUE) Given New $4.50 Price Target at BTIG Research

TrueCar (NASDAQ:TRUE) had its price target lifted by BTIG Research from $3.75 to $4.50 in a report published on Tuesday, Benzinga reports. BTIG Research currently has a buy rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Lake Street Capital started coverage on shares of TrueCar in a report on Monday, October 7th. They issued a “buy” rating and a $6.00 target price on the stock.

TrueCar Stock Down 1.6 %

Shares of TRUE opened at $3.74 on Tuesday. The company has a market capitalization of $342.49 million, a P/E ratio of -9.35 and a beta of 1.85. The firm has a 50 day moving average of $3.26 and a 200 day moving average of $3.12. TrueCar has a twelve month low of $1.76 and a twelve month high of $4.05.

TrueCar (NASDAQ:TRUE) last issued its earnings results on Monday, August 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). TrueCar had a negative return on equity of 14.10% and a negative net margin of 17.63%. The company had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $43.38 million. On average, sell-side analysts expect that TrueCar will post -0.29 EPS for the current year.

Insider Transactions at TrueCar

In related news, EVP Jeff Swart sold 20,000 shares of TrueCar stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total transaction of $56,400.00. Following the transaction, the executive vice president now owns 390,600 shares in the company, valued at approximately $1,101,492. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in TrueCar by 35.4% in the 1st quarter. BNP Paribas Financial Markets now owns 70,820 shares of the technology company’s stock valued at $240,000 after acquiring an additional 18,501 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of TrueCar by 29.1% in the 1st quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company’s stock worth $2,273,000 after buying an additional 151,115 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of TrueCar by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock worth $14,497,000 after buying an additional 41,592 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of TrueCar in the 1st quarter worth about $152,000. Finally, Lazard Asset Management LLC bought a new stake in shares of TrueCar in the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 79.44% of the company’s stock.

TrueCar Company Profile

TrueCar, Inc 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. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.