Jeff Swart Sells 20,000 Shares of TrueCar, Inc. (NASDAQ:TRUE) Stock

TrueCar, Inc. (NASDAQ:TRUE) EVP Jeff Swart sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total value of $56,400.00. Following the sale, the executive vice president now owns 390,600 shares in the company, valued at $1,101,492. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

TrueCar Price Performance

Shares of NASDAQ:TRUE traded up $0.06 during midday trading on Friday, reaching $2.84. The company had a trading volume of 333,524 shares, compared to its average volume of 209,921. The stock has a market capitalization of $258.13 million, a P/E ratio of -7.10 and a beta of 1.88. The stock’s fifty day moving average price is $3.17 and its 200-day moving average price is $3.19. TrueCar, Inc. has a one year low of $1.76 and a one year high of $4.05.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in shares of TrueCar during the first quarter worth about $43,000. Fairman Group LLC acquired a new stake in TrueCar during the fourth quarter valued at approximately $73,000. New York State Common Retirement Fund raised its stake in TrueCar by 269.8% during the fourth quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company’s stock valued at $96,000 after buying an additional 20,254 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in TrueCar during the 1st quarter worth approximately $152,000. Finally, Mackenzie Financial Corp grew its position in shares of TrueCar by 84.1% in the 4th quarter. Mackenzie Financial Corp now owns 55,911 shares of the technology company’s stock worth $193,000 after acquiring an additional 25,537 shares in the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRUE has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price objective on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a report on Tuesday, August 6th. StockNews.com raised TrueCar from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. Finally, BTIG Research raised TrueCar from a “neutral” rating to a “buy” rating and set a $3.75 price target for the company in a report on Wednesday, August 7th.

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.