Jacobs Levy Equity Management Inc. Sells 312,445 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Jacobs Levy Equity Management Inc. cut its position in TrueCar, Inc. (NASDAQ:TRUE - Free Report) by 87.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,846 shares of the technology company's stock after selling 312,445 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.05% of TrueCar worth $171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of TrueCar in the fourth quarter valued at $49,000. Straightline Group LLC purchased a new position in shares of TrueCar in the fourth quarter valued at $69,000. XTX Topco Ltd purchased a new position in shares of TrueCar in the fourth quarter valued at $136,000. Wells Fargo & Company MN grew its position in shares of TrueCar by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company's stock valued at $188,000 after purchasing an additional 10,950 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of TrueCar by 77.1% in the fourth quarter. MetLife Investment Management LLC now owns 50,615 shares of the technology company's stock valued at $189,000 after purchasing an additional 22,032 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors.

TrueCar Stock Performance

TrueCar stock traded down $0.07 during midday trading on Friday, hitting $1.49. 303,203 shares of the company's stock were exchanged, compared to its average volume of 296,653. The stock has a 50-day moving average price of $1.52 and a two-hundred day moving average price of $2.79. TrueCar, Inc. has a 52-week low of $1.05 and a 52-week high of $4.62. The company has a market cap of $130.64 million, a P/E ratio of -4.38 and a beta of 2.13.

TrueCar (NASDAQ:TRUE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) earnings per share (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 analysts' expectations of $47.30 million. As a group, sell-side analysts expect that TrueCar, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut TrueCar from a "neutral" rating to an "underweight" rating in a research report on Thursday, March 27th. Citigroup cut TrueCar to an "underweight" rating in a research report on Thursday, March 27th. Lake Street Capital cut TrueCar from a "buy" rating to a "hold" rating and reduced their target price for the stock from $5.00 to $1.50 in a research report on Tuesday, May 6th. Needham & Company LLC reduced their target price on TrueCar from $4.00 to $2.75 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen cut TrueCar from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $3.19.

TrueCar Profile

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.