Raymond James Financial Inc. Takes Position in TrueCar, Inc. (NASDAQ:TRUE)

Raymond James Financial Inc. bought a new position in TrueCar, Inc. (NASDAQ:TRUE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 249,461 shares of the technology company's stock, valued at approximately $930,000. Raymond James Financial Inc. owned 0.29% of TrueCar as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of TrueCar by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company's stock worth $1,945,000 after purchasing an additional 224,969 shares during the last quarter. JPMorgan Chase & Co. grew its stake in TrueCar by 113.0% in the 4th quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company's stock worth $1,199,000 after acquiring an additional 170,475 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of TrueCar by 12.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 189,144 shares of the technology company's stock worth $706,000 after acquiring an additional 20,544 shares during the period. American Century Companies Inc. increased its position in shares of 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 acquiring an additional 22,385 shares during the period. Finally, Invesco Ltd. raised its stake in shares of TrueCar by 10.5% during the fourth quarter. Invesco Ltd. now owns 139,746 shares of the technology company's stock valued at $521,000 after acquiring an additional 13,286 shares in the last quarter. Institutional investors own 79.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TRUE. JPMorgan Chase & Co. downgraded TrueCar from a "neutral" rating to an "underweight" rating in a report on Thursday, March 27th. B. Riley reaffirmed a "neutral" rating on shares of TrueCar in a research note on Wednesday. Lake Street Capital downgraded shares of TrueCar from a "buy" rating to a "hold" rating and cut their target price for the company from $5.00 to $1.50 in a research report on Tuesday. StockNews.com downgraded shares of TrueCar from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Needham & Company LLC lowered their target price on TrueCar from $4.00 to $2.75 and set a "buy" rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $3.19.

TrueCar Price Performance

NASDAQ:TRUE traded down $0.06 during mid-day trading on Friday, hitting $1.39. The company's stock had a trading volume of 229,339 shares, compared to its average volume of 284,843. The business's fifty day moving average is $1.62 and its two-hundred day moving average is $2.97. The stock has a market cap of $121.65 million, a price-to-earnings ratio of -4.09 and a beta of 2.13. TrueCar, Inc. has a 1 year low of $1.05 and a 1 year high of $4.62.

TrueCar (NASDAQ:TRUE - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $46.21 million during the quarter, compared to analyst estimates of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. Analysts anticipate that TrueCar, Inc. will post -0.19 EPS for the current fiscal year.

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.