Deutsche Bank AG Boosts Stake in TrueCar, Inc. (NASDAQ:TRUE)

Deutsche Bank AG raised its holdings in shares of TrueCar, Inc. (NASDAQ:TRUE) by 61.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,812 shares of the technology company’s stock after buying an additional 34,858 shares during the quarter. Deutsche Bank AG owned about 0.11% of TrueCar worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of TrueCar during the 4th quarter worth approximately $930,000. Arrowstreet Capital Limited Partnership increased its stake in TrueCar by 75.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company’s stock worth $1,945,000 after buying an additional 224,969 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of TrueCar by 113.0% during the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 170,475 shares in the last quarter. XTX Topco Ltd purchased a new position in TrueCar in the fourth quarter worth about $136,000. Finally, Bank of America Corp DE increased its stake in TrueCar by 14.4% during the fourth quarter. Bank of America Corp DE now owns 212,804 shares of the technology company’s stock worth $794,000 after acquiring an additional 26,780 shares during the last quarter. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRUE has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 27th. Lake Street Capital downgraded TrueCar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $5.00 to $1.50 in a report on Tuesday, May 6th. B. Riley reissued a “neutral” rating on shares of TrueCar in a research note on Wednesday, May 7th. Needham & Company LLC reduced their price target on shares of TrueCar from $4.00 to $2.75 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Citigroup cut TrueCar to an “underweight” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.19.

TrueCar Price Performance

TrueCar stock opened at $1.46 on Friday. The company has a market capitalization of $127.57 million, a price-to-earnings ratio of -4.28 and a beta of 2.13. TrueCar, Inc. has a 12-month low of $1.05 and a 12-month high of $4.62. The firm’s fifty day moving average price is $1.50 and its 200 day moving average price is $2.69.

About TrueCar

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.