Royal Bank of Canada Cuts Holdings in TrueCar, Inc. (TRUE)

Royal Bank of Canada lowered its position in TrueCar, Inc. (NASDAQ:TRUE) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,784 shares of the technology company’s stock after selling 1,963 shares during the quarter. Royal Bank of Canada’s holdings in TrueCar were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Baker Avenue Asset Management LP boosted its stake in TrueCar by 1.9% in the second quarter. Baker Avenue Asset Management LP now owns 37,006 shares of the technology company’s stock worth $738,000 after buying an additional 681 shares in the last quarter. B. Riley Financial Inc. boosted its stake in TrueCar by 3.7% in the second quarter. B. Riley Financial Inc. now owns 34,095 shares of the technology company’s stock worth $680,000 after buying an additional 1,220 shares in the last quarter. Legal & General Group Plc boosted its stake in TrueCar by 10.5% in the second quarter. Legal & General Group Plc now owns 19,734 shares of the technology company’s stock worth $389,000 after buying an additional 1,872 shares in the last quarter. Teachers Advisors LLC boosted its stake in TrueCar by 2.1% in the first quarter. Teachers Advisors LLC now owns 94,754 shares of the technology company’s stock worth $1,466,000 after buying an additional 1,932 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its stake in TrueCar by 5.3% in the second quarter. Federated Investors Inc. PA now owns 50,258 shares of the technology company’s stock worth $1,002,000 after buying an additional 2,544 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Shares of TrueCar, Inc. (TRUE) opened at $11.22 on Monday. TrueCar, Inc. has a 52 week low of $10.16 and a 52 week high of $21.75. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.09.

Several brokerages have issued reports on TRUE. B. Riley reaffirmed a “buy” rating and issued a $21.00 target price on shares of TrueCar in a research note on Wednesday, August 9th. Cowen and Company reissued a “hold” rating and set a $15.00 price objective on shares of TrueCar in a research note on Thursday, August 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $23.00 price objective (up previously from $22.00) on shares of TrueCar in a research note on Thursday, August 10th. Zacks Investment Research raised TrueCar from a “sell” rating to a “hold” rating in a research note on Friday. Finally, ValuEngine lowered TrueCar from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.44.

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In related news, Director John Krafcik sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $16.95, for a total value of $169,500.00. Following the completion of the sale, the director now owns 51,678 shares of the company’s stock, valued at $875,942.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Skutta sold 117,410 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $17.01, for a total value of $1,997,144.10. Following the completion of the sale, the executive vice president now directly owns 181,282 shares of the company’s stock, valued at approximately $3,083,606.82. The disclosure for this sale can be found here. Insiders sold 500,669 shares of company stock valued at $8,333,936 in the last ninety days. 15.50% of the stock is currently owned by insiders.

TrueCar Profile

TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.

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Institutional Ownership by Quarter for TrueCar (NASDAQ:TRUE)

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