Roadzen (NASDAQ:RDZN) Insider Buys $17,100.00 in Stock

Roadzen Inc. (NASDAQ:RDZN) insider Rohan Malhotra acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were purchased at an average cost of $1.71 per share, for a total transaction of $17,100.00. Following the completion of the acquisition, the insider owned 829,837 shares in the company, valued at $1,419,021.27. This represents a 1.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rohan Malhotra also recently made the following trade(s):

• On Friday, November 21st, Rohan Malhotra bought 12,000 shares of Roadzen stock. The stock was purchased at an average cost of $1.43 per share, with a total value of $17,160.00.

Roadzen Price Performance

NASDAQ RDZN traded down $0.05 on Friday, reaching $1.64. 77,094 shares of the company’s stock traded hands, compared to its average volume of 366,429. The stock has a market cap of $129.48 million, a PE ratio of -13.63 and a beta of 0.46. Roadzen Inc. has a 12 month low of $0.68 and a 12 month high of $2.99. The stock has a 50-day simple moving average of $1.38 and a 200 day simple moving average of $1.16.

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

Hedge Funds Weigh In On Roadzen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ground Swell Capital LLC bought a new stake in shares of Roadzen in the 2nd quarter worth approximately $26,000. Bank of America Corp DE lifted its stake in Roadzen by 263.3% in the fourth quarter. Bank of America Corp DE now owns 30,238 shares of the company’s stock worth $66,000 after acquiring an additional 21,915 shares during the period. AQR Capital Management LLC boosted its holdings in Roadzen by 51.7% in the first quarter. AQR Capital Management LLC now owns 40,559 shares of the company’s stock valued at $42,000 after acquiring an additional 13,830 shares in the last quarter. Nuveen LLC bought a new stake in Roadzen in the first quarter valued at $51,000. Finally, Bank of New York Mellon Corp increased its position in Roadzen by 57.2% during the 1st quarter. Bank of New York Mellon Corp now owns 57,456 shares of the company’s stock valued at $60,000 after purchasing an additional 20,902 shares during the period. 24.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roadzen in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Roadzen currently has an average rating of “Sell”.

About Roadzen

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.