Jacobs Levy Equity Management Inc. Has $171,000 Stock Holdings in TrueCar, Inc. (NASDAQ:TRUE)

Jacobs Levy Equity Management Inc. reduced its stake in shares of TrueCar, Inc. (NASDAQ:TRUE) by 87.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 45,846 shares of the technology company’s stock after selling 312,445 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.05% of TrueCar worth $171,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC raised its holdings in TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock worth $448,000 after buying an additional 81,745 shares during the period. JPMorgan Chase & Co. raised its holdings in TrueCar by 113.0% during the 4th quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock worth $1,199,000 after buying an additional 170,475 shares during the period. Raymond James Financial Inc. acquired a new stake in TrueCar during the 4th quarter worth approximately $930,000. American Century Companies Inc. raised its holdings in TrueCar by 17.9% during the 4th 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 during the period. Finally, XTX Topco Ltd acquired a new stake in TrueCar during the 4th quarter worth approximately $136,000. 79.44% of the stock is currently owned by institutional investors and hedge funds.

TrueCar Stock Up 3.2%

NASDAQ TRUE opened at $1.61 on Monday. TrueCar, Inc. has a 12-month low of $1.05 and a 12-month high of $4.62. The company has a market capitalization of $141.16 million, a PE ratio of -4.74 and a beta of 2.13. The firm’s 50 day moving average is $1.55 and its 200-day moving average is $2.86.

TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. The firm had revenue of $46.21 million during the quarter, compared to the consensus estimate of $47.30 million. As a group, sell-side analysts expect that TrueCar, Inc. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

TRUE has been the topic of several research analyst reports. StockNews.com downgraded shares of TrueCar from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. B. Riley reiterated a “neutral” rating on shares of TrueCar in a report on Wednesday, May 7th. Lake Street Capital downgraded shares of TrueCar from a “buy” rating to a “hold” rating and lowered their price objective for the company from $5.00 to $1.50 in a report on Tuesday, May 6th. JPMorgan Chase & Co. downgraded shares of TrueCar from a “neutral” rating to an “underweight” rating in a report on Thursday, March 27th. Finally, Needham & Company LLC lowered their price objective on shares of TrueCar from $4.00 to $2.75 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.19.

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.