Invesco Ltd. Has $521,000 Stock Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Invesco Ltd. increased its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,746 shares of the technology company’s stock after purchasing an additional 13,286 shares during the period. Invesco Ltd. owned approximately 0.16% of TrueCar worth $521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TRUE. Barclays PLC grew its holdings in shares of TrueCar by 169.2% during the third quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock worth $448,000 after buying an additional 81,745 shares in the last quarter. JPMorgan Chase & Co. increased its position in TrueCar by 113.0% during the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock worth $1,199,000 after buying an additional 170,475 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in TrueCar during the 4th quarter valued at $930,000. American Century Companies Inc. grew its stake in TrueCar by 17.9% in the 4th quarter. American Century Companies Inc. now owns 147,783 shares of the technology company’s stock valued at $551,000 after buying an additional 22,385 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 71,508 shares during the last quarter. 79.44% of the stock is owned by institutional investors.

TrueCar Trading Up 3.3 %

Shares of NASDAQ:TRUE opened at $1.56 on Friday. The stock has a market cap of $136.52 million, a PE ratio of -4.59 and a beta of 1.97. The stock’s fifty day simple moving average is $1.69 and its two-hundred day simple moving average is $3.03. TrueCar, Inc. has a 1-year low of $1.25 and a 1-year high of $4.62.

TrueCar (NASDAQ:TRUE) last released its quarterly 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 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%. On average, sell-side analysts forecast that TrueCar, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRUE. Citigroup downgraded shares of TrueCar to an “underweight” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lowered TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. 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 research report on Wednesday, February 19th. Finally, StockNews.com cut TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.63.

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.