Assenagon Asset Management S.A. Takes Position in TrueCar, Inc. (NASDAQ:TRUE)

Assenagon Asset Management S.A. acquired a new stake in shares of TrueCar, Inc. (NASDAQ:TRUE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,141 shares of the technology company’s stock, valued at approximately $210,000. Assenagon Asset Management S.A. owned 0.07% of TrueCar as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of TrueCar during the first quarter valued at approximately $43,000. Fairman Group LLC purchased a new stake in TrueCar in the fourth quarter worth $73,000. New York State Common Retirement Fund lifted its stake in TrueCar by 269.8% in the fourth quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company’s stock worth $96,000 after acquiring an additional 20,254 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in TrueCar in the first quarter worth $152,000. Finally, Mackenzie Financial Corp lifted its stake in TrueCar by 84.1% in the fourth quarter. Mackenzie Financial Corp now owns 55,911 shares of the technology company’s stock worth $193,000 after acquiring an additional 25,537 shares during the period. Hedge funds and other institutional investors own 79.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jeff Swart sold 20,000 shares of TrueCar stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $2.82, for a total value of $56,400.00. Following the completion of the sale, the executive vice president now directly owns 390,600 shares in the company, valued at approximately $1,101,492. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on TRUE shares. StockNews.com upgraded TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th. Needham & Company LLC reduced their price target on TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, BTIG Research upgraded TrueCar from a “neutral” rating to a “buy” rating and set a $3.75 price target for the company in a report on Wednesday, August 7th.

TrueCar Price Performance

Shares of NASDAQ:TRUE opened at $2.84 on Friday. TrueCar, Inc. has a 1-year low of $1.76 and a 1-year high of $4.05. The business has a fifty day moving average price of $3.17 and a 200-day moving average price of $3.18. The company has a market capitalization of $260.07 million, a PE ratio of -7.10 and a beta of 1.88.

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.