TrueCar, Inc. (NASDAQ:TRUE) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its stake in TrueCar, Inc. (NASDAQ:TRUE) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,275 shares of the technology company’s stock after purchasing an additional 10,950 shares during the period. Wells Fargo & Company MN’s holdings in TrueCar were worth $188,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of TrueCar by 75.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company’s stock valued at $1,945,000 after buying an additional 224,969 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of TrueCar by 113.0% during the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock worth $1,199,000 after buying an additional 170,475 shares in the last quarter. American Century Companies Inc. increased its stake in shares of TrueCar by 17.9% in the fourth quarter. American Century Companies Inc. now owns 147,783 shares of the technology company’s stock worth $551,000 after buying an additional 22,385 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in TrueCar in the fourth quarter valued at $930,000. Finally, Noesis Capital Mangement Corp boosted its stake in TrueCar by 25.0% during the 4th quarter. Noesis Capital Mangement Corp now owns 125,000 shares of the technology company’s stock valued at $466,000 after acquiring an additional 25,000 shares during the last quarter. 79.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRUE has been the topic of several research reports. Needham & Company LLC dropped their price target on TrueCar from $4.00 to $2.75 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup cut shares of TrueCar to an “underweight” rating in a report on Thursday, March 27th. B. Riley reaffirmed a “neutral” rating on shares of TrueCar in a report on Wednesday. JPMorgan Chase & Co. downgraded shares of TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Finally, StockNews.com cut shares of TrueCar from a “buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.19.

TrueCar Stock Performance

NASDAQ:TRUE opened at $1.45 on Friday. The business has a fifty day moving average of $1.62 and a 200-day moving average of $2.97. The stock has a market cap of $126.90 million, a price-to-earnings ratio of -4.26 and a beta of 2.13. TrueCar, Inc. has a 1 year low of $1.05 and a 1 year high of $4.62.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. The firm had revenue of $46.21 million during the quarter, compared to the consensus estimate of $47.30 million. On average, equities research analysts predict that TrueCar, Inc. will post -0.19 EPS for the current year.

About TrueCar

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.