Bank of America Corp DE Acquires 26,780 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Bank of America Corp DE raised its holdings in TrueCar, Inc. (NASDAQ:TRUE) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,804 shares of the technology company’s stock after purchasing an additional 26,780 shares during the quarter. Bank of America Corp DE owned 0.24% of TrueCar worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TRUE. Straightline Group LLC purchased a new stake in TrueCar in the fourth quarter worth $69,000. XTX Topco Ltd bought a new stake in TrueCar in the 4th quarter valued at about $136,000. Wells Fargo & Company MN raised its stake in TrueCar by 27.8% in the 4th 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 period. MetLife Investment Management LLC lifted its holdings 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. Finally, Noesis Capital Mangement Corp boosted 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 worth $466,000 after purchasing an additional 25,000 shares during the period. 79.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRUE has been the topic of several research reports. Citigroup lowered shares of TrueCar to an “underweight” rating in a research report on Thursday, March 27th. B. Riley reissued a “neutral” rating on shares of TrueCar in a report on Wednesday, May 7th. Needham & Company LLC dropped their target price on TrueCar from $4.00 to $2.75 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lowered TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 27th. Finally, Wall Street Zen lowered shares of TrueCar from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.19.

TrueCar Price Performance

TrueCar stock opened at $1.41 on Monday. TrueCar, Inc. has a one year low of $1.05 and a one year high of $4.62. The business’s fifty day moving average is $1.47 and its 200 day moving average is $2.60. The stock has a market capitalization of $123.62 million, a PE ratio of -4.15 and a beta of 2.08.

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.