Insider Selling: Phunware, Inc. (NASDAQ:PHUN) Director Sells $152,414.25 in Stock

Phunware, Inc. (NASDAQ:PHUN) Director Rahul Mewawalla sold 29,595 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $5.15, for a total value of $152,414.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Phunware Stock Up 0.7 %

Shares of PHUN opened at $4.41 on Friday. Phunware, Inc. has a one year low of $2.85 and a one year high of $24.49. The stock’s fifty day moving average is $5.58 and its 200-day moving average is $5.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80.

Hedge Funds Weigh In On Phunware

An institutional investor recently raised its position in Phunware stock. Geode Capital Management LLC increased its stake in Phunware, Inc. (NASDAQ:PHUN) by 36.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,767 shares of the company’s stock after acquiring an additional 30,507 shares during the period. Geode Capital Management LLC owned approximately 1.00% of Phunware worth $389,000 at the end of the most recent reporting period. 7.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PHUN has been the subject of several recent research reports. Ascendiant Capital Markets lowered their price target on shares of Phunware from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. HC Wainwright lowered shares of Phunware from a “buy” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $6.00 in a research note on Tuesday, November 12th.

Phunware Company Profile

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.