112,536 Shares in TrueCar, Inc. (NASDAQ:TRUE) Bought by Millennium Management LLC

Millennium Management LLC bought a new position in shares of TrueCar, Inc. (NASDAQ:TRUE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 112,536 shares of the technology company’s stock, valued at approximately $420,000. Millennium Management LLC owned about 0.13% of TrueCar at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in TrueCar during the fourth quarter worth $477,000. Deutsche Bank AG boosted its position in TrueCar by 61.2% during the fourth quarter. Deutsche Bank AG now owns 91,812 shares of the technology company’s stock worth $342,000 after purchasing an additional 34,858 shares during the period. Bank of America Corp DE boosted its position 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 purchasing an additional 26,780 shares during the period. Northern Trust Corp boosted its position in TrueCar by 2.6% during the fourth quarter. Northern Trust Corp now owns 714,729 shares of the technology company’s stock worth $2,666,000 after purchasing an additional 17,790 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in TrueCar by 3.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 143,749 shares of the technology company’s stock worth $537,000 after purchasing an additional 5,089 shares during the period. 79.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRUE has been the subject of a number of research analyst reports. Citigroup cut shares of TrueCar to an “underweight” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut shares of TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Lake Street Capital cut shares of TrueCar from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $5.00 to $1.50 in a research report on Tuesday, May 6th. Wall Street Zen cut shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, TrueCar presently has a consensus rating of “Hold” and an average price target of $3.19.

TrueCar Stock Performance

Shares of TrueCar stock opened at $1.44 on Tuesday. The firm has a 50-day moving average of $1.47 and a 200-day moving average of $2.58. The stock has a market cap of $126.25 million, a PE ratio of -4.24 and a beta of 2.08. TrueCar, Inc. has a 52-week low of $1.05 and a 52-week high of $4.62.

TrueCar Company 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.