Insider Selling: TrueCar, Inc. (TRUE) CFO Sells 94,747 Shares of Stock

TrueCar, Inc. (NASDAQ:TRUE) CFO Michael Guthrie sold 94,747 shares of TrueCar stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $18.77, for a total value of $1,778,401.19. Following the completion of the transaction, the chief financial officer now owns 390,467 shares in the company, valued at approximately $7,329,065.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Michael Guthrie also recently made the following trade(s):

  • On Thursday, August 3rd, Michael Guthrie sold 33,673 shares of TrueCar stock. The stock was sold at an average price of $19.01, for a total value of $640,123.73.
  • On Friday, August 4th, Michael Guthrie sold 124,999 shares of TrueCar stock. The stock was sold at an average price of $19.02, for a total value of $2,377,480.98.
  • On Tuesday, August 1st, Michael Guthrie sold 110,472 shares of TrueCar stock. The stock was sold at an average price of $18.84, for a total value of $2,081,292.48.
  • On Wednesday, August 2nd, Michael Guthrie sold 290,052 shares of TrueCar stock. The stock was sold at an average price of $18.66, for a total value of $5,412,370.32.
  • On Wednesday, July 26th, Michael Guthrie sold 70,353 shares of TrueCar stock. The stock was sold at an average price of $19.80, for a total value of $1,392,989.40.
  • On Thursday, July 27th, Michael Guthrie sold 146,888 shares of TrueCar stock. The shares were sold at an average price of $18.89, for a total value of $2,774,714.32.
  • On Friday, July 28th, Michael Guthrie sold 322,865 shares of TrueCar stock. The shares were sold at an average price of $19.12, for a total value of $6,173,178.80.

Shares of TrueCar, Inc. (TRUE) traded up 1.27% during midday trading on Friday, reaching $15.94. The company’s stock had a trading volume of 1,785,109 shares. The firm’s 50 day moving average is $19.51 and its 200 day moving average is $16.69. The firm’s market capitalization is $1.57 billion. TrueCar, Inc. has a 52 week low of $8.09 and a 52 week high of $21.75.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.83%. The business had revenue of $81.82 million for the quarter, compared to the consensus estimate of $80.75 million. During the same period in the prior year, the business posted ($0.05) earnings per share. TrueCar’s revenue for the quarter was up 23.2% compared to the same quarter last year.

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Institutional investors have recently bought and sold shares of the company. Ontario Teachers Pension Plan Board acquired a new position in TrueCar during the second quarter valued at approximately $49,825,000. B. Riley Financial Inc. boosted its stake in TrueCar by 3.7% in the second quarter. B. Riley Financial Inc. now owns 34,095 shares of the technology company’s stock worth $680,000 after buying an additional 1,220 shares during the period. Hood River Capital Management LLC boosted its stake in TrueCar by 45.1% in the second quarter. Hood River Capital Management LLC now owns 658,944 shares of the technology company’s stock worth $13,133,000 after buying an additional 204,942 shares during the period. Virtu KCG Holdings LLC boosted its stake in TrueCar by 32.2% in the second quarter. Virtu KCG Holdings LLC now owns 22,168 shares of the technology company’s stock worth $442,000 after buying an additional 5,405 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in TrueCar by 336.2% in the second quarter. Renaissance Technologies LLC now owns 978,900 shares of the technology company’s stock worth $19,509,000 after buying an additional 754,500 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

TRUE has been the subject of a number of analyst reports. Craig Hallum boosted their price target on TrueCar from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $22.00 price target on shares of TrueCar in a research report on Friday, August 4th. B. Riley reiterated a “buy” rating and set a $21.50 price target on shares of TrueCar in a research report on Tuesday, May 2nd. Zacks Investment Research cut TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Cowen and Company boosted their price target on TrueCar from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.56.

TrueCar Company 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.

Insider Buying and Selling by Quarter for TrueCar (NASDAQ:TRUE)

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