Geode Capital Management LLC Sells 26,781 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Geode Capital Management LLC reduced its stake in TrueCar, Inc. (NASDAQ:TRUE) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,928,445 shares of the technology company’s stock after selling 26,781 shares during the quarter. Geode Capital Management LLC owned about 2.22% of TrueCar worth $7,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SkyView Investment Advisors LLC boosted its holdings in TrueCar by 1.8% in the third quarter. SkyView Investment Advisors LLC now owns 203,695 shares of the technology company’s stock worth $703,000 after acquiring an additional 3,510 shares in the last quarter. R Squared Ltd bought a new position in TrueCar in the 4th quarter worth about $49,000. State Street Corp grew its position in TrueCar by 0.9% during the 3rd 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 during the last quarter. Jane Street Group LLC increased its stake in TrueCar by 19.4% during the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock valued at $344,000 after purchasing an additional 16,163 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in TrueCar by 12.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 189,144 shares of the technology company’s stock worth $706,000 after buying an additional 20,544 shares during the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.

TrueCar Price Performance

NASDAQ TRUE opened at $1.54 on Friday. TrueCar, Inc. has a 1-year low of $1.25 and a 1-year high of $4.62. The stock has a market capitalization of $134.77 million, a price-to-earnings ratio of -4.53 and a beta of 1.97. The business’s fifty day moving average price is $1.83 and its 200-day moving average price is $3.12.

TrueCar (NASDAQ:TRUE) last posted its earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $46.21 million during 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%. Equities research analysts anticipate that TrueCar, Inc. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

TRUE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of TrueCar from a “neutral” rating to an “underweight” rating in a report on Thursday, March 27th. Citigroup lowered TrueCar to an “underweight” rating in a report on Thursday, March 27th. StockNews.com downgraded TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Needham & Company LLC dropped their price objective on TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, TrueCar presently has an average rating of “Hold” and an average price target of $4.63.

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.