American Century Companies Inc. increases stock position in TrueCar, Inc. (NASDAQ:TRUE)

American Century Companies Inc. increased its stake in TrueCar, Inc. (NASDAQ:TRUE – Free Report) by 11.7% during the second quarter, HoldingsChannel reports. The firm owned 104,371 shares of the technology company’s stock after purchasing an additional 10,900 shares during the quarter. Holdings of American Century Companies Inc. were worth $327,000 in TrueCar as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in TrueCar by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock worth $14,497,000 after acquiring an additional 41,592 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in TrueCar by 0.6% in the second quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company’s stock worth $6,671,000 after purchasing an additional 12,956 shares in the last quarter. Mill Road Capital Management LLC raised its position in TrueCar by 5.3% in the fourth quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company’s stock valued at $5,964,000 after buying an additional 86,100 shares during the period. Russell Investments Group Ltd. boosted its holdings in TrueCar by 29.1% in the first quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company’s stock valued at $2,273,000 after purchasing an additional 151,115 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in TrueCar by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 332,775 shares of the technology company’s stock valued at $1,042,000 after acquiring an additional 34,045 shares during the period. 79.44% of shares are currently owned by institutional investors and hedge funds.

Analysts set new price targets

Several brokerages have recently issued reports on TRUE. BTIG Research upgraded shares of TrueCar from a “neutral” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Wednesday, August 7th. Needham & Company LLC cut their price target on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a research note on Tuesday, August 6th.

See the latest stock analysis on TRUE

Insiders place their bets

In other news, EVP Jeff Swart sold 20,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total transaction of $56,400.00. Following the sale, the executive vice president now owns 390,600 shares of the company’s stock, valued at $1,101,492. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 3.30% of shares are currently owned by insiders.

TrueCar trading down 2.4%

Shares of TRUE stock opened at $3.21 on Friday. The firm has a 50-day moving average price of $3.11 and a 200-day moving average price of $3.09. TrueCar, Inc. it has a 12-month low of $1.76 and a 12-month high of $4.05. The firm has a market cap of $291.76 million, a P/E ratio of -8.02 and a beta of 1.84.

TrueCar (NASDAQ:TRUE – Get Your Free Report ) last released its quarterly earnings results on Monday, August 5th. The technology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $41.80 million for the quarter, compared to analysts’ expectations of $43.38 million. TrueCar had a negative return on equity of 14.10% and a negative net margin of 17.63%. Equities research analysts predict that TrueCar, Inc. will post -0.28 earnings per share for the current fiscal year.

TrueCar Company Profile

(Free Report)

TrueCar, Inc operates as an Internet-based information, technology and communications services company in the United States. It operates its platform on the TrueCar website and mobile apps. Its platform allows users to obtain market-based pricing data for new and used cars and connect to its network of certified TrueCar dealers.

Further reading

Want to see what other hedge funds hold TRUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for TrueCar, Inc. (NASDAQ:TRUE – Free Report).

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