Northern Trust Corp Buys 33,922 Shares of Phunware, Inc. (NASDAQ:PHUN)

Northern Trust Corp increased its position in shares of Phunware, Inc. (NASDAQ:PHUN) by 285.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,809 shares of the company’s stock after buying an additional 33,922 shares during the quarter. Northern Trust Corp owned 0.23% of Phunware worth $238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PHUN. Dimensional Fund Advisors LP bought a new stake in shares of Phunware in the 4th quarter worth approximately $89,000. Marshall Wace LLP acquired a new position in shares of Phunware in the fourth quarter valued at $122,000. Finally, Geode Capital Management LLC raised its stake in shares of Phunware by 87.9% in the fourth quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock valued at $1,112,000 after purchasing an additional 100,010 shares in the last quarter. 7.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PHUN. Ascendiant Capital Markets lowered their price target on shares of Phunware from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Roth Capital set a $4.50 target price on shares of Phunware in a research report on Monday, March 24th. Finally, HC Wainwright lowered their target price on shares of Phunware from $6.00 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th.

Phunware Price Performance

Shares of PHUN stock opened at $2.96 on Tuesday. The stock’s fifty day simple moving average is $2.87 and its 200 day simple moving average is $3.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80. The firm has a market cap of $59.71 million, a price-to-earnings ratio of -3.65 and a beta of 2.58. Phunware, Inc. has a one year low of $2.22 and a one year high of $14.60.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. The company had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.60 million. On average, analysts expect that Phunware, Inc. will post -0.97 earnings per share for the current fiscal year.

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.