Nuveen LLC Purchases Shares of 252,356 TrueCar, Inc. $TRUE

Key Points

• Nuveen LLC has acquired a new stake in TrueCar, Inc., purchasing 252,356 shares worth approximately $399,000, representing about 0.29% of the company.
• Several institutional investors have increased their holdings in TrueCar, with MetLife Investment Management raising its stake by 77.1% during the fourth quarter.
• TrueCar's stock has been downgraded to a "hold" rating by Wall Street Zen, with a consensus target price of $3.19.

Nuveen LLC bought a new position in TrueCar, Inc. (NASDAQ:TRUE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 252,356 shares of the technology company's stock, valued at approximately $399,000. Nuveen LLC owned 0.29% of TrueCar at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of TrueCar by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company's stock worth $188,000 after acquiring an additional 10,950 shares during the period. Barclays PLC raised its position in TrueCar by 12.7% in the fourth quarter. Barclays PLC now owns 146,552 shares of the technology company's stock worth $546,000 after purchasing an additional 16,490 shares in the last quarter. MetLife Investment Management LLC lifted its stake in TrueCar by 77.1% during the fourth quarter. MetLife Investment Management LLC now owns 50,615 shares of the technology company's stock worth $189,000 after purchasing an additional 22,032 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in TrueCar by 3.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 143,749 shares of the technology company's stock valued at $537,000 after purchasing an additional 5,089 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of TrueCar by 2.6% in the 4th quarter. Northern Trust Corp now owns 714,729 shares of the technology company's stock valued at $2,666,000 after purchasing an additional 17,790 shares during the period. Institutional investors own 79.44% of the company's stock.

TrueCar Price Performance

Shares of TrueCar stock traded down $0.20 during midday trading on Wednesday, hitting $1.95. 1,094,701 shares of the company were exchanged, compared to its average volume of 283,152. The firm has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $1.76. The firm has a market cap of $172.46 million, a P/E ratio of -5.74 and a beta of 1.97. TrueCar, Inc. has a 52 week low of $1.05 and a 52 week high of $4.62.

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.