Archon Capital Management LLC lifted its holdings in shares of I.D. Systems, Inc. (NASDAQ:IDSY) by 184.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 525,677 shares of the communications equipment provider’s stock after purchasing an additional 341,128 shares during the quarter. I.D. Systems accounts for approximately 1.8% of Archon Capital Management LLC’s portfolio, making the stock its 13th largest position. Archon Capital Management LLC’s holdings in I.D. Systems were worth $3,648,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN bought a new position in shares of I.D. Systems during the 4th quarter worth about $110,000. Northern Trust Corp lifted its holdings in shares of I.D. Systems by 2.6% during the 2nd quarter. Northern Trust Corp now owns 30,613 shares of the communications equipment provider’s stock worth $188,000 after acquiring an additional 784 shares during the period. Smith Moore & CO. bought a new position in shares of I.D. Systems during the 3rd quarter worth about $263,000. Vanguard Group Inc. lifted its holdings in shares of I.D. Systems by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 369,627 shares of the communications equipment provider’s stock worth $2,266,000 after acquiring an additional 7,200 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of I.D. Systems during the 3rd quarter worth about $2,816,000. 48.37% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on IDSY shares. B. Riley reaffirmed a “buy” rating and set a $8.50 price objective on shares of I.D. Systems in a report on Friday, November 10th. TheStreet upgraded shares of I.D. Systems from a “d” rating to a “c-” rating in a research report on Monday, January 22nd. Finally, Zacks Investment Research cut shares of I.D. Systems from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. I.D. Systems presently has an average rating of “Hold” and an average price target of $8.17.
In related news, major shareholder Emancipation Management Llc sold 25,000 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $6.90, for a total transaction of $172,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.17% of the company’s stock.
About I.D. Systems
I.D. Systems, Inc (I.D. Systems) develops, markets and sells wireless machine-to-machine solutions for managing and securing enterprise assets, which include industrial vehicles, such as forklifts and airport ground support equipment, rental vehicles, and transportation assets, such as dry van trailers, refrigerated trailers, railcars and containers.
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