JPMorgan Chase & Co. Raises Stock Position in TrueCar, Inc. (NASDAQ:TRUE)

JPMorgan Chase & Co. grew its position in TrueCar, Inc. (NASDAQ:TRUEFree Report) by 58.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,903 shares of the technology company’s stock after acquiring an additional 55,731 shares during the quarter. JPMorgan Chase & Co. owned 0.17% of TrueCar worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TRUE. Barclays PLC raised its holdings in TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after buying an additional 81,745 shares during the period. Bank of Montreal Can raised its stake in TrueCar by 769.9% in the second quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock worth $1,319,000 after buying an additional 368,234 shares in the last quarter. State Street Corp boosted its position in TrueCar by 0.9% during the third quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after purchasing an additional 16,127 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of TrueCar by 15.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after acquiring an additional 8,027 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of TrueCar by 182.5% during the 2nd quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock valued at $261,000 after purchasing an additional 53,965 shares during the last quarter. Institutional investors own 79.44% of the company’s stock.

TrueCar Trading Down 2.4 %

NASDAQ:TRUE opened at $3.66 on Wednesday. The company has a market cap of $318.27 million, a P/E ratio of -12.62 and a beta of 1.78. TrueCar, Inc. has a twelve month low of $2.56 and a twelve month high of $4.62. The company’s 50-day moving average price is $3.86 and its 200-day moving average price is $3.58.

TrueCar (NASDAQ:TRUEGet Free Report) last released its earnings results on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $46.54 million during the quarter, compared to analysts’ expectations of $45.82 million. TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. During the same period last year, the business earned ($0.07) earnings per share. On average, analysts expect that TrueCar, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on TRUE shares. Lake Street Capital initiated coverage on shares of TrueCar in a research note on Monday, October 7th. They issued a “buy” rating and a $6.00 target price for the company. B. Riley lifted their price target on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. BTIG Research lifted their target price on shares of TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of TrueCar in a research report on Wednesday, January 15th. Finally, StockNews.com upgraded TrueCar from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.88.

View Our Latest Stock Analysis on TRUE

About TrueCar

(Free Report)

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.

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Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

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