JPMorgan Chase & Co. Purchases 15,588 Shares of Roadzen, Inc. (NASDAQ:RDZN)

JPMorgan Chase & Co. boosted its position in shares of Roadzen, Inc. (NASDAQ:RDZN) by 124.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 28,108 shares of the company’s stock after purchasing an additional 15,588 shares during the period. JPMorgan Chase & Co.’s holdings in Roadzen were worth $33,000 at the end of the most recent reporting period.

Separately, Geode Capital Management LLC boosted its holdings in Roadzen by 24.3% in the 3rd quarter. Geode Capital Management LLC now owns 221,210 shares of the company’s stock valued at $263,000 after purchasing an additional 43,235 shares during the period. 24.73% of the stock is owned by institutional investors and hedge funds.

Roadzen Price Performance

Shares of Roadzen stock opened at $1.47 on Wednesday. Roadzen, Inc. has a 1 year low of $0.71 and a 1 year high of $7.15. The firm has a market cap of $108.69 million, a PE ratio of -0.76 and a beta of 0.21. The company has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $1.46.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RDZN shares. Maxim Group decreased their price target on shares of Roadzen from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, November 15th. ThinkEquity initiated coverage on Roadzen in a research note on Monday, October 28th. They issued a “buy” rating and a $6.00 target price on the stock.

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.