OneDigital Investment Advisors LLC Boosts Stake in TrueCar, Inc. (NASDAQ:TRUE)

OneDigital Investment Advisors LLC grew its stake in TrueCar, Inc. (NASDAQ:TRUE) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,569 shares of the technology company’s stock after buying an additional 14,155 shares during the period. OneDigital Investment Advisors LLC owned 0.18% of TrueCar worth $243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRUE. Raymond James Financial Inc. purchased a new position in shares of TrueCar in the fourth quarter worth $930,000. Arrowstreet Capital Limited Partnership raised its holdings 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 buying an additional 224,969 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of TrueCar by 113.0% in the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock worth $1,199,000 after buying an additional 170,475 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of TrueCar in the fourth quarter worth $477,000. Finally, Millennium Management LLC purchased a new position in shares of TrueCar in the fourth quarter worth $420,000. Hedge funds and other institutional investors own 79.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRUE. B. Riley reissued a “neutral” rating on shares of TrueCar in a report on Wednesday, May 7th. Wall Street Zen cut shares of TrueCar from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Needham & Company LLC reduced their target price on shares of TrueCar from $4.00 to $2.75 and set a “buy” rating for the company in a report on Tuesday, May 6th. Lake Street Capital cut shares of TrueCar from a “buy” rating to a “hold” rating and reduced their target price for the stock from $5.00 to $1.50 in a report on Tuesday, May 6th. Finally, Citigroup cut shares of 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 assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.19.

TrueCar Stock Performance

TRUE opened at $1.95 on Friday. TrueCar, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $4.62. The company has a fifty day moving average of $1.62 and a two-hundred day moving average of $2.19. The stock has a market capitalization of $170.98 million, a price-to-earnings ratio of -4.87 and a beta of 2.15.

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.