Whetstone Capital Advisors LLC Sells 840,446 Shares of TrueCar, Inc. (NASDAQ:TRUE)

Whetstone Capital Advisors LLC trimmed its stake in TrueCar, Inc. (NASDAQ:TRUE - Free Report) by 98.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,355 shares of the technology company's stock after selling 840,446 shares during the quarter. Whetstone Capital Advisors LLC's holdings in TrueCar were worth $36,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in TrueCar in the 3rd quarter valued at about $36,000. Lazard Asset Management LLC bought a new stake in TrueCar in the 1st quarter valued at $43,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TrueCar during the 3rd quarter valued at $43,000. SG Americas Securities LLC boosted its position in TrueCar by 126.5% during 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. acquired a new position in shares of TrueCar in the second quarter valued at $210,000. Institutional investors and hedge funds own 79.44% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TRUE. Lake Street Capital initiated coverage on shares of TrueCar in a research note on Monday, October 7th. They set a "buy" rating and a $6.00 target price for the company. BTIG Research increased their target price on TrueCar from $3.75 to $4.50 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. B. Riley upped their price objective on TrueCar from $3.30 to $4.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Finally, Needham & Company LLC reduced their target price on shares of TrueCar from $4.00 to $3.75 and set a "buy" rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, TrueCar currently has an average rating of "Moderate Buy" and an average target price of $4.56.

TrueCar Price Performance

TrueCar stock traded down $0.09 during mid-day trading on Monday, reaching $4.14. 208,244 shares of the company were exchanged, compared to its average volume of 235,170. The firm has a market cap of $360.01 million, a PE ratio of -14.59 and a beta of 1.83. The company has a fifty day simple moving average of $3.69 and a 200-day simple moving average of $3.28. TrueCar, Inc. has a 12 month low of $2.56 and a 12 month high of $4.53.

TrueCar (NASDAQ:TRUE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). The company had revenue of $46.54 million during the quarter, compared to analyst estimates of $45.82 million. TrueCar had a negative net margin of 15.88% and a negative return on equity of 14.33%. During the same period last year, the firm earned ($0.07) EPS. Sell-side analysts anticipate that TrueCar, Inc. will post -0.3 earnings per share for the current year.

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.