TrueCar Inc (NASDAQ:TRUE) EVP Sells $103,608.19 in Stock

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TrueCar Inc (NASDAQ:TRUE) EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $13.51, for a total transaction of $103,608.19. Following the sale, the executive vice president now directly owns 128,791 shares of the company’s stock, valued at $1,739,966.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Robert Mcclung also recently made the following trade(s):

  • On Tuesday, October 2nd, Robert Mcclung sold 192 shares of TrueCar stock. The stock was sold at an average price of $13.52, for a total transaction of $2,595.84.
  • On Thursday, August 16th, Robert Mcclung sold 160 shares of TrueCar stock. The stock was sold at an average price of $12.38, for a total transaction of $1,980.80.
  • On Monday, July 30th, Robert Mcclung sold 16,968 shares of TrueCar stock. The stock was sold at an average price of $10.95, for a total transaction of $185,799.60.

TRUE traded down $0.02 on Friday, hitting $11.97. 849,158 shares of the company’s stock were exchanged, compared to its average volume of 1,382,934. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -44.33 and a beta of 2.60. TrueCar Inc has a twelve month low of $8.75 and a twelve month high of $16.45. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.09.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $87.85 million for the quarter, compared to analyst estimates of $87.81 million. TrueCar had a negative net margin of 10.07% and a negative return on equity of 8.42%. TrueCar’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. Research analysts anticipate that TrueCar Inc will post -0.25 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in TrueCar during the first quarter worth about $170,000. NumerixS Investment Technologies Inc increased its stake in shares of TrueCar by 30.8% in the second quarter. NumerixS Investment Technologies Inc now owns 31,818 shares of the technology company’s stock valued at $321,000 after purchasing an additional 7,500 shares during the period. 683 Capital Management LLC increased its stake in shares of TrueCar by 3.7% in the second quarter. 683 Capital Management LLC now owns 3,383,358 shares of the technology company’s stock valued at $34,138,000 after purchasing an additional 120,000 shares during the period. Ontario Teachers Pension Plan Board increased its stake in shares of TrueCar by 16.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 5,250,000 shares of the technology company’s stock valued at $49,665,000 after purchasing an additional 750,000 shares during the period. Finally, A.R.T. Advisors LLC increased its stake in shares of TrueCar by 66.2% in the first quarter. A.R.T. Advisors LLC now owns 302,082 shares of the technology company’s stock valued at $2,857,000 after purchasing an additional 120,300 shares during the period. Hedge funds and other institutional investors own 90.38% of the company’s stock.

TRUE has been the subject of a number of research reports. DA Davidson set a $13.00 price target on shares of TrueCar and gave the stock a “hold” rating in a research report on Monday, August 13th. ValuEngine raised shares of TrueCar from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research cut shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. TrueCar presently has an average rating of “Hold” and a consensus price target of $15.57.

About TrueCar

TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

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