Squarepoint Ops LLC Boosts Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Squarepoint Ops LLC raised its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 182.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,538 shares of the technology company’s stock after buying an additional 53,965 shares during the quarter. Squarepoint Ops LLC owned about 0.09% of TrueCar worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in TrueCar by 769.9% during the 2nd quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock valued at $1,319,000 after buying an additional 368,234 shares during the period. Russell Investments Group Ltd. increased its holdings in TrueCar by 29.1% during the first quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company’s stock valued at $2,273,000 after buying an additional 151,115 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of TrueCar in the 2nd quarter worth $210,000. Hillsdale Investment Management Inc. purchased a new stake in shares of TrueCar during the first quarter valued at about $152,000. Finally, Vanguard Group Inc. lifted its position in TrueCar by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock valued at $14,497,000 after acquiring an additional 41,592 shares during the last quarter. 79.44% of the stock is currently owned by institutional investors.

TrueCar Price Performance

Shares of TRUE stock opened at $3.68 on Friday. TrueCar, Inc. has a 1-year low of $1.76 and a 1-year high of $4.05. The company has a market cap of $334.48 million, a price-to-earnings ratio of -11.63 and a beta of 1.85. The stock has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $3.09.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Monday, August 5th. The technology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). TrueCar had a negative return on equity of 14.10% and a negative net margin of 17.63%. The company had revenue of $41.80 million for the quarter, compared to analyst estimates of $43.38 million. Analysts anticipate that TrueCar, Inc. will post -0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on TRUE shares. BTIG Research upgraded shares of TrueCar from a “neutral” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Wednesday, August 7th. Lake Street Capital began coverage on shares of TrueCar in a research note on Monday, October 7th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Needham & Company LLC dropped their target price on TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a report on Tuesday, August 6th.

Insider Activity at TrueCar

In other TrueCar news, EVP Jeff Swart sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $2.82, for a total transaction of $56,400.00. Following the completion of the sale, the executive vice president now directly owns 390,600 shares in the company, valued at approximately $1,101,492. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

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.