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Director Michael J McConnell of Powerfleet, Inc. (NASDAQ:AIOT) has purchased 10,000 shares of common stock on August 18, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The purchase comes as the stock trades near $4.58, down about 44% over the past six months according to InvestingPro data. The shares were bought at a price of $4.64, for a total transaction value of $46,400.
Following the transaction, McConnell directly owns 28,028 shares of Powerfleet, Inc.
In other recent news, Powerfleet, Inc. reported first-quarter earnings that exceeded expectations, along with strong revenue growth. These financial results have garnered attention from investors, highlighting the company’s performance in the artificial intelligence of things (AIoT) sector. Additionally, Powerfleet announced a strategic partnership with MTN Business South Africa to expand its AIoT solutions across various industries. This collaboration aims to leverage Powerfleet’s Unity AIoT platform with MTN’s expansive network infrastructure. Furthermore, Powerfleet secured a multi-year agreement with SIXT Mexico to enhance operations across its rental vehicle fleet using the Unity platform. In a move to bolster safety measures, Powerfleet launched an automated AI risk intervention app designed to identify and mitigate safety risks in real time. This new application integrates seamlessly with the company’s existing Unity ecosystem, providing enhanced automated risk assessment capabilities. These developments mark significant strides for Powerfleet in expanding its AIoT offerings and partnerships.
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