Russell Investments Group Ltd. Sells 8,837 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Russell Investments Group Ltd. decreased its position in TrueCar, Inc. (NASDAQ:TRUE) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 692,505 shares of the technology company’s stock after selling 8,837 shares during the quarter. Russell Investments Group Ltd.’s holdings in TrueCar were worth $2,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRUE. SkyView Investment Advisors LLC increased its holdings in TrueCar by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 203,695 shares of the technology company’s stock valued at $703,000 after purchasing an additional 3,510 shares during the period. Wells Fargo & Company MN increased its stake in shares of TrueCar by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company’s stock valued at $188,000 after buying an additional 10,950 shares during the period. R Squared Ltd bought a new position in shares of TrueCar during the fourth quarter valued at approximately $49,000. State Street Corp lifted its stake in TrueCar by 0.9% in the third quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock worth $6,178,000 after acquiring an additional 16,127 shares during the period. Finally, Jane Street Group LLC lifted its stake in TrueCar by 19.4% in the third quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock worth $344,000 after acquiring an additional 16,163 shares during the period. 79.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Needham & Company LLC decreased their price objective on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. downgraded shares of TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 27th. Citigroup cut TrueCar to an “underweight” rating in a research report on Thursday, March 27th. Finally, StockNews.com lowered TrueCar from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, TrueCar has a consensus rating of “Hold” and an average target price of $4.63.

TrueCar Stock Down 2.3 %

TrueCar stock opened at $1.28 on Friday. The stock’s 50 day moving average is $2.03 and its 200 day moving average is $3.19. The company has a market capitalization of $112.02 million, a P/E ratio of -3.76 and a beta of 1.97. TrueCar, Inc. has a twelve month low of $1.25 and a twelve month high of $4.62.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $46.21 million for the quarter, compared to the consensus estimate of $47.30 million. TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. As a group, equities analysts expect that TrueCar, Inc. will post -0.19 EPS for the current year.

TrueCar 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.