Whetstone Capital Advisors LLC Has $36,000 Stake in TrueCar, Inc. (NASDAQ:TRUE)

Whetstone Capital Advisors LLC lowered its holdings in TrueCar, Inc. (NASDAQ:TRUE) by 98.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,355 shares of the technology company’s stock after selling 840,446 shares during the period. Whetstone Capital Advisors LLC’s holdings in TrueCar were worth $36,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of TrueCar in the third quarter valued at approximately $36,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TrueCar during the 3rd quarter valued at $43,000. Lazard Asset Management LLC acquired a new stake in shares of TrueCar during the 1st quarter worth $43,000. SG Americas Securities LLC increased its position in shares of TrueCar by 126.5% in the third quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock worth $120,000 after purchasing an additional 19,349 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of TrueCar in the second quarter worth $210,000. Institutional investors and hedge funds own 79.44% of the company’s stock.

TrueCar Price Performance

TRUE opened at $4.23 on Monday. TrueCar, Inc. has a fifty-two week low of $2.56 and a fifty-two week high of $4.53. The company’s 50 day moving average price is $3.69 and its two-hundred day moving average price is $3.28.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $46.54 million during the quarter, compared to the consensus estimate of $45.82 million. TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. During the same period in the prior year, the firm earned ($0.07) EPS. Equities research analysts predict that TrueCar, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

TRUE has been the topic of a number of analyst reports. B. Riley increased their price objective on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC reduced their price target on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. BTIG Research boosted their price objective on shares of TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Lake Street Capital assumed coverage on TrueCar in a report on Monday, October 7th. They issued a “buy” rating and a $6.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.56.

TrueCar 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.