LPL Financial LLC Has $75,000 Stake in TrueCar, Inc. (NASDAQ:TRUE)

LPL Financial LLC reduced its holdings in TrueCar, Inc. (NASDAQ:TRUE) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,000 shares of the technology company’s stock after selling 20,000 shares during the quarter. LPL Financial LLC’s holdings in TrueCar were worth $75,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TRUE. Raymond James Financial Inc. bought a new position in shares of TrueCar during the 4th quarter worth about $930,000. Barclays PLC increased its holdings in TrueCar by 169.2% in 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. Geode Capital Management LLC lifted its holdings in shares of TrueCar by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock worth $6,747,000 after acquiring an additional 71,508 shares during the period. JPMorgan Chase & Co. boosted its position in shares of TrueCar by 58.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,903 shares of the technology company’s stock valued at $521,000 after acquiring an additional 55,731 shares in the last quarter. Finally, Noesis Capital Mangement Corp raised its position in TrueCar by 25.0% in the fourth quarter. Noesis Capital Mangement Corp now owns 125,000 shares of the technology company’s stock worth $466,000 after purchasing an additional 25,000 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors.

TrueCar Stock Up 1.3 %

Shares of TRUE opened at $1.51 on Friday. The stock’s fifty day simple moving average is $1.71 and its 200-day simple moving average is $3.05. The firm has a market capitalization of $132.15 million, a PE ratio of -4.44 and a beta of 1.97. TrueCar, Inc. has a 12-month low of $1.25 and a 12-month high of $4.62.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TRUE. JPMorgan Chase & Co. cut TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Needham & Company LLC cut their price target 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. Citigroup cut shares of TrueCar to an “underweight” rating in a research note on Thursday, March 27th. Finally, StockNews.com cut shares of TrueCar from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Two 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, the company presently has a consensus rating of “Hold” and a consensus 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.