Rhumbline Advisers Sells 10,156 Shares of FiscalNote Holdings, Inc. (NYSE:NOTE)

Rhumbline Advisers lessened its holdings in FiscalNote Holdings, Inc. (NYSE:NOTE) by 15.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,729 shares of the company’s stock after selling 10,156 shares during the quarter. Rhumbline Advisers’ holdings in FiscalNote were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Natixis acquired a new position in FiscalNote in the 1st quarter valued at approximately $40,000. Vanguard Group Inc. increased its holdings in FiscalNote by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,157,496 shares of the company’s stock valued at $5,529,000 after purchasing an additional 12,853 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in FiscalNote by 51.5% in the first quarter. International Assets Investment Management LLC now owns 109,200 shares of the company’s stock valued at $136,000 after purchasing an additional 37,100 shares during the period. 54.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FiscalNote

In related news, CEO Tim Hwang sold 64,211 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.27, for a total transaction of $81,547.97. Following the completion of the sale, the chief executive officer now owns 2,541,513 shares in the company, valued at $3,227,721.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 139,058 shares of company stock valued at $188,274. 47.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. DA Davidson cut their target price on FiscalNote from $1.35 to $1.05 and set a “neutral” rating on the stock in a report on Friday, August 9th. Northland Securities lowered their price objective on FiscalNote from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, B. Riley cut their target price on FiscalNote from $2.25 to $2.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

FiscalNote Stock Performance

NYSE:NOTE opened at $1.27 on Tuesday. The company has a fifty day moving average of $1.35 and a 200-day moving average of $1.40. FiscalNote Holdings, Inc. has a twelve month low of $0.65 and a twelve month high of $2.28. The firm has a market capitalization of $170.66 million, a P/E ratio of -3.56 and a beta of 0.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.36.

FiscalNote (NYSE:NOTE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. FiscalNote had a negative return on equity of 115.06% and a negative net margin of 36.20%. The firm had revenue of $29.25 million during the quarter, compared to analysts’ expectations of $29.05 million. During the same quarter last year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts anticipate that FiscalNote Holdings, Inc. will post -0.43 EPS for the current year.

FiscalNote Company Profile

FiscalNote Holdings, Inc operates as technology company North America, Europe, Australia, and Asia. It combines artificial intelligence technology, machine learning, and other technologies with analytics, workflow tools, and expert research. The company also delivers that intelligence through its suite of public policy and issues management products, as well as powerful tools to manage workflows, advocacy campaigns, and constituent relationships.