TrueCar, Inc. (TRUE) Stake Raised by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC boosted its position in TrueCar, Inc. (NASDAQ:TRUE) by 743.3% during the first quarter, Holdings Channel reports. The firm owned 429,493 shares of the technology company’s stock after buying an additional 378,564 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.50% of TrueCar worth $6,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TRUE. USA Financial Portformulas Corp bought a new position in shares of TrueCar during the fourth quarter worth approximately $486,000. EastBay Asset Management LLC bought a new position in shares of TrueCar during the fourth quarter worth approximately $12,622,000. Strategic Investment Management LLC bought a new position in shares of TrueCar during the fourth quarter worth approximately $168,000. Boothbay Fund Management LLC bought a new position in shares of TrueCar during the fourth quarter worth approximately $275,000. Finally, AQR Capital Management LLC increased its position in shares of TrueCar by 22.5% in the fourth quarter. AQR Capital Management LLC now owns 38,782 shares of the technology company’s stock worth $485,000 after buying an additional 7,119 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

Shares of TrueCar, Inc. (NASDAQ TRUE) opened at 18.85 on Friday. The firm has a 50-day moving average of $17.90 and a 200 day moving average of $14.84. The firm’s market capitalization is $1.75 billion. TrueCar, Inc. has a 52 week low of $7.06 and a 52 week high of $19.64.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. TrueCar had a negative net margin of 12.64% and a negative return on equity of 13.82%. The company had revenue of $75.80 million during the quarter, compared to analysts’ expectations of $73.34 million. During the same quarter in the previous year, the business posted ($0.07) EPS. The firm’s revenue was up 22.5% on a year-over-year basis. On average, equities research analysts expect that TrueCar, Inc. will post ($0.02) EPS for the current fiscal year.

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TRUE has been the topic of a number of research analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $19.00 target price on shares of TrueCar in a research note on Friday, April 21st. Loop Capital restated a “buy” rating and issued a $18.00 target price on shares of TrueCar in a research note on Tuesday, March 28th. Citigroup Inc. initiated coverage on shares of TrueCar in a research note on Monday, March 27th. They issued a “buy” rating and a $18.00 target price on the stock. B. Riley restated a “buy” rating and issued a $16.50 target price on shares of TrueCar in a research note on Saturday, March 11th. Finally, Zacks Investment Research upgraded shares of TrueCar from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.59.

In other news, insider Ii L.P. Upfront sold 1,725,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $15.72, for a total value of $27,117,000.00. Following the completion of the transaction, the insider now owns 3,865,651 shares in the company, valued at approximately $60,768,033.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Services Automobile Ass United sold 3,132,343 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $16.50, for a total transaction of $51,683,659.50. Following the completion of the transaction, the insider now owns 8,533,348 shares of the company’s stock, valued at approximately $140,800,242. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,178,035 shares of company stock valued at $100,592,078. Company insiders own 17.30% of the company’s stock.

About TrueCar

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.

Want to see what other hedge funds are holding TRUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TrueCar, Inc. (NASDAQ:TRUE).

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