TrueCar (NASDAQ:TRUE) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of TrueCar (NASDAQ:TRUE) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of TrueCar in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $3.19.

TrueCar Trading Down 13.7%

Shares of TRUE opened at $1.57 on Tuesday. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62. The firm has a market capitalization of $138.85 million, a price-to-earnings ratio of -4.62 and a beta of 2.00. The firm’s 50-day moving average price is $2.02 and its 200-day moving average price is $1.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP lifted its stake in shares of TrueCar by 30.8% in the second quarter. Engineers Gate Manager LP now owns 37,648 shares of the technology company’s stock worth $72,000 after buying an additional 8,875 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of TrueCar by 8.4% in the first quarter. American Century Companies Inc. now owns 160,127 shares of the technology company’s stock worth $253,000 after buying an additional 12,344 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in TrueCar by 10.2% during the first quarter. OneDigital Investment Advisors LLC now owns 153,569 shares of the technology company’s stock valued at $243,000 after purchasing an additional 14,155 shares during the period. Goldman Sachs Group Inc. lifted its position in TrueCar by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 387,829 shares of the technology company’s stock valued at $613,000 after purchasing an additional 16,822 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in TrueCar during the second quarter valued at approximately $35,000. Institutional investors own 79.44% of the company’s stock.

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.