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

JPMorgan Chase & Co. increased its stake in Roadzen, Inc. (NASDAQ:RDZN) by 124.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,108 shares of the company’s stock after purchasing an additional 15,588 shares during the quarter. JPMorgan Chase & Co.’s holdings in Roadzen were worth $33,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC raised its stake in shares of 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 buying an additional 43,235 shares during the period. Institutional investors own 24.73% of the company’s stock.

Roadzen Price Performance

Shares of RDZN stock opened at $1.47 on Wednesday. The stock has a market capitalization of $108.69 million, a price-to-earnings ratio of -0.76 and a beta of 0.21. The company’s fifty day simple moving average is $1.77 and its two-hundred day simple moving average is $1.46. Roadzen, Inc. has a 1 year low of $0.71 and a 1 year high of $7.15.

Wall Street Analysts Forecast Growth

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

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.