440,000 Shares in Roadzen, Inc. (NASDAQ:RDZN) Purchased by Sheets Smith Wealth Management

Sheets Smith Wealth Management bought a new stake in Roadzen, Inc. (NASDAQ:RDZN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 440,000 shares of the company's stock, valued at approximately $959,000. Sheets Smith Wealth Management owned approximately 0.59% of Roadzen as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers acquired a new position in Roadzen in the 2nd quarter valued at $39,000. Bank of New York Mellon Corp bought a new stake in shares of Roadzen in the 2nd quarter worth $59,000. JPMorgan Chase & Co. grew its position in Roadzen by 124.5% during the third quarter. JPMorgan Chase & Co. now owns 28,108 shares of the company's stock valued at $33,000 after buying an additional 15,588 shares during the period. Murchinson Ltd. purchased a new stake in Roadzen during the second quarter valued at about $100,000. Finally, Geode Capital Management LLC boosted its holdings in Roadzen by 24.3% in the third quarter. Geode Capital Management LLC now owns 221,210 shares of the company's stock valued at $263,000 after acquiring an additional 43,235 shares in the last quarter. Institutional investors own 24.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Maxim Group dropped their price target on shares of Roadzen from $7.00 to $4.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. ThinkEquity assumed coverage on Roadzen in a report on Monday, October 28th. They set a "buy" rating and a $6.00 target price for the company.

Roadzen Trading Up 17.5 %

NASDAQ RDZN traded up $0.30 on Wednesday, reaching $2.02. 412,132 shares of the company were exchanged, compared to its average volume of 451,099. Roadzen, Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $7.17. The business's fifty day moving average price is $1.63 and its 200 day moving average price is $1.50. The stock has a market capitalization of $149.94 million, a P/E ratio of -1.06 and a beta of 0.28.

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.