Barclays PLC Acquires 16,490 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Barclays PLC boosted its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,552 shares of the technology company’s stock after acquiring an additional 16,490 shares during the period. Barclays PLC owned 0.17% of TrueCar worth $546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRUE. R Squared Ltd bought a new stake in TrueCar during the fourth quarter worth about $49,000. Straightline Group LLC acquired a new stake in shares of TrueCar during the 4th quarter worth approximately $69,000. Wells Fargo & Company MN increased its stake in TrueCar by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company’s stock valued at $188,000 after acquiring an additional 10,950 shares during the last quarter. Jane Street Group LLC increased its stake in TrueCar by 19.4% in the third quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock valued at $344,000 after acquiring an additional 16,163 shares during the last quarter. Finally, Noesis Capital Mangement Corp raised its position in TrueCar by 25.0% during the fourth quarter. Noesis Capital Mangement Corp now owns 125,000 shares of the technology company’s stock valued at $466,000 after purchasing an additional 25,000 shares in the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on TRUE shares. Lake Street Capital lowered TrueCar from a “buy” rating to a “hold” rating and reduced their price objective for the company from $5.00 to $1.50 in a research note on Tuesday. B. Riley reaffirmed a “neutral” rating on shares of TrueCar in a research report on Wednesday. Needham & Company LLC cut their price objective on TrueCar from $4.00 to $2.75 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup downgraded shares of TrueCar to an “underweight” rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, TrueCar currently has an average rating of “Hold” and a consensus price target of $3.19.

TrueCar Stock Up 9.8 %

NASDAQ TRUE opened at $1.45 on Friday. TrueCar, Inc. has a 52 week low of $1.05 and a 52 week high of $4.62. The business has a 50 day moving average price of $1.62 and a 200-day moving average price of $2.97. The company has a market cap of $126.90 million, a price-to-earnings ratio of -4.26 and a beta of 2.13.

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

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.