TrueCar (NASDAQ:TRUE) Price Target Lowered to $4.00 at Needham & Company LLC

TrueCar (NASDAQ:TRUE - Get Free Report) had its price objective lowered by analysts at Needham & Company LLC from $4.50 to $4.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective indicates a potential upside of 51.52% from the company's previous close.

TrueCar Stock Down 4.3 %

Shares of TRUE traded down $0.12 during midday trading on Tuesday, reaching $2.64. 196,913 shares of the stock were exchanged, compared to its average volume of 209,325. TrueCar has a twelve month low of $1.76 and a twelve month high of $4.05. The company has a market cap of $241.74 million, a P/E ratio of -4.71 and a beta of 1.65. The stock's 50 day simple moving average is $3.26 and its 200 day simple moving average is $3.08.

TrueCar (NASDAQ:TRUE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.05. The business had revenue of $41.29 million during the quarter, compared to the consensus estimate of $41.50 million. TrueCar had a negative return on equity of 24.27% and a negative net margin of 31.36%. As a group, analysts predict that TrueCar will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other TrueCar news, EVP Jeff Swart sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $3.25, for a total transaction of $48,750.00. Following the completion of the transaction, the executive vice president now owns 355,044 shares of the company's stock, valued at $1,153,893. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of TrueCar during the third quarter worth about $83,000. Principal Financial Group Inc. bought a new stake in shares of TrueCar during the third quarter worth about $27,000. Boston Partners grew its holdings in shares of TrueCar by 20.9% during the third quarter. Boston Partners now owns 184,751 shares of the technology company's stock worth $382,000 after purchasing an additional 31,898 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of TrueCar by 2.6% during the third quarter. Acadian Asset Management LLC now owns 2,113,950 shares of the technology company's stock worth $4,374,000 after purchasing an additional 53,889 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in shares of TrueCar by 5.5% during the third quarter. SkyView Investment Advisors LLC now owns 127,658 shares of the technology company's stock worth $264,000 after purchasing an additional 6,680 shares during the last quarter. Institutional investors and hedge funds own 79.44% of the company's stock.

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.