Insider Buying: Roadzen (NASDAQ:RDZN) Insider Purchases 12,000 Shares of Stock

Roadzen Inc. (NASDAQ:RDZN) insider Rohan Malhotra acquired 12,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was purchased at an average price of $1.43 per share, for a total transaction of $17,160.00. Following the completion of the transaction, the insider directly owned 819,837 shares in the company, valued at approximately $1,172,366.91. The trade was a 1.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Roadzen Stock Up 1.6%

Shares of Roadzen stock traded up $0.03 during trading on Tuesday, reaching $1.56. 23,292 shares of the company were exchanged, compared to its average volume of 372,561. The business has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.12. The firm has a market capitalization of $123.14 million, a price-to-earnings ratio of -12.96 and a beta of 0.45. Roadzen Inc. has a twelve month low of $0.68 and a twelve month high of $2.99.

Roadzen (NASDAQ:RDZN) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $13.68 million during the quarter, compared to analyst estimates of $12.00 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Roadzen in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Roadzen

Several hedge funds have recently bought and sold shares of RDZN. Ground Swell Capital LLC bought a new position in shares of Roadzen during the second quarter worth approximately $26,000. Bank of America Corp DE grew its stake in shares of Roadzen by 263.3% in the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company’s stock valued at $66,000 after acquiring an additional 21,915 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Roadzen by 51.7% during the 1st quarter. AQR Capital Management LLC now owns 40,559 shares of the company’s stock worth $42,000 after buying an additional 13,830 shares in the last quarter. Nuveen LLC bought a new stake in shares of Roadzen during the 1st quarter worth $51,000. Finally, Bank of New York Mellon Corp boosted its stake in Roadzen by 57.2% in the first quarter. Bank of New York Mellon Corp now owns 57,456 shares of the company’s stock valued at $60,000 after buying an additional 20,902 shares in the last quarter. 24.73% of the stock is currently owned by institutional investors and hedge funds.

Roadzen Company Profile

Roadzen, Inc, an insurtech company, provides various insurance products in the United States and internationally. It offers insurance as a service platform, including Via, which enables fleets, carmakers, and insurers to inspect a vehicle using computer vision; Global Distribution Network that enables the configuration, customer quote, payment, and administration of any insurance policy with any insurance carrier as the underwriter; xClaim, which enables digital, touchless, and real-time resolution of claims; StrandD, a digital, real-time dispatch, and tracking for roadside assistance and first notice of loss during accident claims; Good Driving that enables insurers and fleets to recognize drivers, train drivers, and build usage based insurance programs; and Drivebuddy AI, which provides driver-assistance capabilities.