Wells Fargo & Company MN lowered its stake in shares of TrueCar Inc (NASDAQ:TRUE) by 25.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 149,208 shares of the technology company’s stock after selling 52,055 shares during the quarter. Wells Fargo & Company MN’s holdings in TrueCar were worth $2,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TRUE. Baker Avenue Asset Management LP boosted its position in TrueCar by 1.9% in the second quarter. Baker Avenue Asset Management LP now owns 37,006 shares of the technology company’s stock valued at $738,000 after buying an additional 681 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in TrueCar by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after buying an additional 734 shares during the last quarter. B. Riley Financial Inc. boosted its position in TrueCar by 3.7% in the second quarter. B. Riley Financial Inc. now owns 34,095 shares of the technology company’s stock valued at $680,000 after buying an additional 1,220 shares during the last quarter. Legal & General Group Plc boosted its position in TrueCar by 10.5% in the second quarter. Legal & General Group Plc now owns 19,734 shares of the technology company’s stock valued at $389,000 after buying an additional 1,872 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its position in TrueCar by 5.3% in the second quarter. Federated Investors Inc. PA now owns 50,258 shares of the technology company’s stock valued at $1,002,000 after buying an additional 2,544 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

In other TrueCar news, SVP John Pierantoni sold 2,494 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $11.29, for a total value of $28,157.26. Following the sale, the senior vice president now owns 57,513 shares in the company, valued at approximately $649,321.77. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Neeraj Gunsagar sold 10,443 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.28, for a total value of $117,797.04. Following the completion of the sale, the executive vice president now owns 254,144 shares in the company, valued at approximately $2,866,744.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,035 shares of company stock worth $158,296. Insiders own 15.50% of the company’s stock.

A number of brokerages recently commented on TRUE. Goldman Sachs Group reiterated a “neutral” rating and issued a $17.00 target price on shares of TrueCar in a research report on Wednesday, October 11th. Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. B. Riley reiterated a “buy” rating and issued a $18.00 target price (down previously from $21.00) on shares of TrueCar in a research report on Tuesday, November 7th. Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 target price on the stock in a research report on Monday, October 2nd. Finally, ValuEngine lowered TrueCar from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.50.

Shares of TrueCar Inc (NASDAQ:TRUE) opened at $11.74 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.31 and a quick ratio of 6.31. TrueCar Inc has a 52-week low of $10.16 and a 52-week high of $21.75. The company has a market capitalization of $1,170.00, a P/E ratio of -33.54 and a beta of 2.70.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Monday, November 6th. The technology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). TrueCar had a negative return on equity of 10.38% and a negative net margin of 10.29%. sell-side analysts forecast that TrueCar Inc will post -0.32 earnings per share for the current year.

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TrueCar Profile

TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.

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Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

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