Geode Capital Management LLC Buys 43,235 Shares of Roadzen, Inc. (NASDAQ:RDZN)

Geode Capital Management LLC lifted its stake in Roadzen, Inc. (NASDAQ:RDZN) by 24.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,210 shares of the company’s stock after acquiring an additional 43,235 shares during the period. Geode Capital Management LLC’s holdings in Roadzen were worth $263,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Rhumbline Advisers bought a new position in shares of Roadzen in the second quarter worth $39,000. Bank of New York Mellon Corp bought a new position in shares of Roadzen in the second quarter worth $59,000. Finally, Murchinson Ltd. bought a new position in shares of Roadzen in the second quarter worth $100,000. 24.73% of the stock is owned by institutional investors.

Roadzen Stock Performance

NASDAQ:RDZN opened at $1.45 on Tuesday. The firm has a market capitalization of $107.58 million, a price-to-earnings ratio of -0.76 and a beta of 0.28. Roadzen, Inc. has a 52-week low of $0.71 and a 52-week high of $7.17. The stock has a fifty day moving average of $1.56 and a 200 day moving average of $1.54.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. ThinkEquity assumed coverage on Roadzen in a research note on Monday, October 28th. They set a “buy” rating and a $6.00 price objective for the company. Maxim Group dropped their price objective on Roadzen from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, November 15th.

Roadzen 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.