Northern Trust Corp Has $2.67 Million Stock Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Northern Trust Corp lifted its holdings in TrueCar, Inc. (NASDAQ:TRUE) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 714,729 shares of the technology company’s stock after buying an additional 17,790 shares during the period. Northern Trust Corp owned about 0.82% of TrueCar worth $2,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in shares of TrueCar in the fourth quarter worth $49,000. Straightline Group LLC acquired a new stake in shares of TrueCar in the fourth quarter worth $69,000. XTX Topco Ltd acquired a new stake in shares of TrueCar in the fourth quarter worth $136,000. Wells Fargo & Company MN boosted its position in shares of TrueCar by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company’s stock worth $188,000 after buying an additional 10,950 shares during the period. Finally, MetLife Investment Management LLC boosted its position in TrueCar by 77.1% during the fourth quarter. MetLife Investment Management LLC now owns 50,615 shares of the technology company’s stock valued at $189,000 after purchasing an additional 22,032 shares during the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.

TrueCar Price Performance

NASDAQ TRUE opened at $1.49 on Friday. TrueCar, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $4.62. The stock’s 50-day moving average is $1.52 and its two-hundred day moving average is $2.79. The firm has a market cap of $130.64 million, a P/E ratio of -4.38 and a beta of 2.13.

Wall Street Analysts Forecast Growth

TRUE has been the subject of a number of research reports. Citigroup cut TrueCar to an “underweight” rating in a research report on Thursday, March 27th. Needham & Company LLC reduced their price objective on TrueCar from $4.00 to $2.75 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Wall Street Zen cut TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Finally, Lake Street Capital cut 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 report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, TrueCar has an average rating of “Hold” and an average price target of $3.19.

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.