Assenagon Asset Management S.A. Has $217,000 Position in TrueCar, Inc. (NASDAQ:TRUE)

Assenagon Asset Management S.A. cut its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 27.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,419 shares of the technology company’s stock after selling 51,725 shares during the period. Assenagon Asset Management S.A. owned about 0.16% of TrueCar worth $217,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TRUE. Northern Trust Corp boosted its holdings in shares of TrueCar by 2.6% in the 4th quarter. Northern Trust Corp now owns 714,729 shares of the technology company’s stock worth $2,666,000 after buying an additional 17,790 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of TrueCar by 75.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company’s stock worth $1,945,000 after purchasing an additional 224,969 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 170,475 shares during the last quarter. Raymond James Financial Inc. bought a new position in TrueCar during the fourth quarter valued at approximately $930,000. Finally, Bank of America Corp DE boosted its stake in shares of TrueCar by 14.4% during the fourth quarter. Bank of America Corp DE now owns 212,804 shares of the technology company’s stock valued at $794,000 after purchasing an additional 26,780 shares during the period. 79.44% of the stock is currently owned by institutional investors.

TrueCar Stock Performance

NASDAQ TRUE opened at $1.64 on Friday. TrueCar, Inc. has a one year low of $1.05 and a one year high of $4.62. The stock has a 50-day moving average of $1.49 and a 200 day moving average of $2.45. The company has a market capitalization of $143.80 million, a price-to-earnings ratio of -4.10 and a beta of 2.08.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup lowered TrueCar to an “underweight” rating in a research note on Thursday, March 27th. B. Riley reiterated a “neutral” rating on shares of TrueCar in a report on Wednesday, May 7th. Lake Street Capital downgraded TrueCar from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $5.00 to $1.50 in a report on Tuesday, May 6th. Needham & Company LLC decreased their price objective on TrueCar from $4.00 to $2.75 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Wall Street Zen downgraded 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 issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, TrueCar has an average rating of “Hold” and an average target price 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.