XTX Topco Ltd Buys 33,652 Shares of TrueCar, Inc. (NASDAQ:TRUE)

XTX Topco Ltd raised its stake in TrueCar, Inc. (NASDAQ:TRUE) by 92.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,044 shares of the technology company’s stock after acquiring an additional 33,652 shares during the quarter. XTX Topco Ltd owned about 0.08% of TrueCar worth $111,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TRUE. Raymond James Financial Inc. bought a new position in TrueCar in the 4th quarter valued at about $930,000. JPMorgan Chase & Co. raised its holdings in TrueCar by 113.0% in the 4th 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 period. Lazard Asset Management LLC bought a new position in TrueCar in the 4th quarter valued at about $477,000. Millennium Management LLC bought a new position in TrueCar in the 4th quarter valued at about $420,000. Finally, Deutsche Bank AG raised its holdings in TrueCar by 61.2% in the 4th quarter. Deutsche Bank AG now owns 91,812 shares of the technology company’s stock valued at $342,000 after acquiring an additional 34,858 shares during the period. 79.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on TRUE. Lake Street Capital cut shares of TrueCar from a “buy” rating to a “hold” rating and lowered their target price for the stock from $5.00 to $1.50 in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. B. Riley reiterated a “neutral” rating on shares of TrueCar in a research report on Wednesday, May 7th. Finally, Needham & Company LLC dropped 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.19.

TrueCar Trading Down 5.1%

NASDAQ TRUE opened at $1.86 on Friday. TrueCar, Inc. has a 1-year low of $1.05 and a 1-year high of $4.62. The company has a market cap of $164.50 million, a price-to-earnings ratio of -5.47 and a beta of 2.03. The company has a 50 day moving average of $1.83 and a 200-day moving average of $1.93.

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.