Rahul Mewawalla Sells 29,595 Shares of Phunware, Inc. (NASDAQ:PHUN) Stock

Phunware, Inc. (NASDAQ:PHUN) Director Rahul Mewawalla sold 29,595 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $5.15, for a total transaction of $152,414.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Phunware Price Performance

NASDAQ:PHUN opened at $4.41 on Thursday. Phunware, Inc. has a twelve month low of $2.85 and a twelve month high of $24.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80. The firm has a 50-day moving average price of $5.56 and a two-hundred day moving average price of $5.16.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Ascendiant Capital Markets cut their price objective 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 cut Phunware from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $6.00 in a report on Tuesday, November 12th.

About Phunware

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.