Assenagon Asset Management S.A. Has $706,000 Stock Position in TrueCar, Inc. (NASDAQ:TRUE)

Assenagon Asset Management S.A. boosted its position in TrueCar, Inc. (NASDAQ:TRUE) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,144 shares of the technology company’s stock after buying an additional 20,544 shares during the quarter. Assenagon Asset Management S.A.’s holdings in TrueCar were worth $706,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in TrueCar in the 3rd quarter worth approximately $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TrueCar in the third quarter worth $43,000. SG Americas Securities LLC grew its stake in shares of TrueCar by 126.5% in the third quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock worth $120,000 after acquiring an additional 19,349 shares during the last quarter. BNP Paribas Financial Markets increased its position in TrueCar by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after acquiring an additional 8,027 shares during the period. Finally, Squarepoint Ops LLC raised its stake in TrueCar by 182.5% during the 2nd quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock valued at $261,000 after purchasing an additional 53,965 shares during the last quarter. Institutional investors own 79.44% of the company’s stock.

TrueCar Price Performance

Shares of TrueCar stock opened at $3.62 on Friday. The company has a market capitalization of $314.79 million, a P/E ratio of -12.48 and a beta of 1.78. The business has a 50-day moving average of $3.88 and a two-hundred day moving average of $3.57. TrueCar, Inc. has a 1 year low of $2.56 and a 1 year high of $4.62.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $46.54 million for the quarter, compared to the consensus estimate of $45.82 million. TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. During the same period in the prior year, the business earned ($0.07) earnings per share. On average, equities analysts anticipate that TrueCar, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRUE. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of TrueCar in a research report on Wednesday, January 15th. StockNews.com raised TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Lake Street Capital began coverage on TrueCar in a report on Monday, October 7th. They set a “buy” rating and a $6.00 price objective on the stock. BTIG Research upped their target price on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, B. Riley raised their target price on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.88.

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.