Connective Capital Management LLC Buys New Shares in TrueCar, Inc. $TRUE

Connective Capital Management LLC purchased a new position in TrueCar, Inc. (NASDAQ:TRUE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 208,449 shares of the technology company's stock, valued at approximately $396,000. Connective Capital Management LLC owned about 0.24% of TrueCar as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Kapitalo Investimentos Ltda bought a new stake in shares of TrueCar during the 2nd quarter worth $35,000. Algert Global LLC acquired a new stake in shares of TrueCar during the first quarter worth $30,000. Strs Ohio purchased a new stake in shares of TrueCar during the first quarter valued at $38,000. Ethic Inc. boosted its position in shares of TrueCar by 104.7% in the 2nd quarter. Ethic Inc. now owns 44,013 shares of the technology company's stock valued at $87,000 after purchasing an additional 22,511 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in TrueCar by 219.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 54,653 shares of the technology company's stock worth $104,000 after purchasing an additional 37,533 shares in the last quarter. Institutional investors own 79.44% of the company's stock.

Wall Street Analysts Forecast Growth

TRUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded TrueCar from an "underweight" rating to a "neutral" rating in a report on Thursday, October 16th. BTIG Research lowered shares of TrueCar from a "buy" rating to a "hold" rating in a research note on Monday, October 20th. Needham & Company LLC reissued a "hold" rating on shares of TrueCar in a research note on Tuesday, October 7th. Lake Street Capital increased their price objective on TrueCar from $2.00 to $2.55 and gave the stock a "hold" rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of TrueCar in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $2.65.

Check Out Our Latest Stock Analysis on TRUE

TrueCar Stock Performance

Shares of TRUE stock opened at $2.16 on Wednesday. The stock has a market cap of $192.11 million, a price-to-earnings ratio of -9.82 and a beta of 2.00. TrueCar, Inc. has a 52-week low of $1.05 and a 52-week high of $4.62. The firm has a fifty day moving average of $2.12 and a 200-day moving average of $1.93.

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.

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