TrueCar, Inc. (NASDAQ:TRUE) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in TrueCar, Inc. (NASDAQ:TRUE - Free Report) by 113.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 321,378 shares of the technology company's stock after acquiring an additional 170,475 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of TrueCar worth $1,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its holdings in TrueCar by 17.9% during 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of TrueCar in the fourth quarter valued at $930,000. Noesis Capital Mangement Corp increased its position in TrueCar by 25.0% during the fourth quarter. Noesis Capital Mangement Corp now owns 125,000 shares of the technology company's stock worth $466,000 after purchasing an additional 25,000 shares during the last quarter. R Squared Ltd acquired a new stake in shares of TrueCar during the 4th quarter worth $49,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of TrueCar by 12.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,144 shares of the technology company's stock valued at $706,000 after purchasing an additional 20,544 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRUE shares. StockNews.com downgraded TrueCar from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Needham & Company LLC reduced their target price on TrueCar from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered TrueCar from a "neutral" rating to an "underweight" rating in a report on Thursday, March 27th. Finally, Citigroup downgraded shares of TrueCar to an "underweight" rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $4.63.

TrueCar Stock Performance

Shares of TRUE traded up $0.06 during mid-day trading on Thursday, reaching $1.55. 8,359 shares of the company's stock traded hands, compared to its average volume of 276,701. The business's 50-day moving average price is $1.73 and its 200-day moving average price is $3.07. The stock has a market capitalization of $135.30 million, a P/E ratio of -4.54 and a beta of 1.97. TrueCar, Inc. has a 12 month low of $1.25 and a 12 month high of $4.62.

TrueCar (NASDAQ:TRUE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share 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 company had revenue of $46.21 million during the quarter, compared to analyst estimates of $47.30 million. Equities research analysts anticipate that TrueCar, Inc. will post -0.19 EPS for the current year.

TrueCar Company 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.