Inseego Corp. (NASDAQ:INSG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Inseego Corp. (NASDAQ:INSG) by 7.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 104,304 shares of the technology company’s stock after buying an additional 7,325 shares during the period. Geode Capital Management LLC’s holdings in Inseego were worth $1,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Inseego during the 3rd quarter valued at $26,000. Covestor Ltd purchased a new position in Inseego in the third quarter valued at about $32,000. Barclays PLC grew its stake in Inseego by 71.3% during the 3rd quarter. Barclays PLC now owns 4,051 shares of the technology company’s stock valued at $67,000 after purchasing an additional 1,686 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Inseego during the 3rd quarter worth approximately $73,000. Finally, Olympiad Research LP acquired a new position in shares of Inseego in the 3rd quarter valued at approximately $184,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Insider Transactions at Inseego

In other news, Chairman Philip G. Brace acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $12.40 per share, with a total value of $124,000.00. Following the acquisition, the chairman now directly owns 177,763 shares in the company, valued at approximately $2,204,261.20. The trade was a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on INSG shares. Roth Capital raised shares of Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Thursday, November 14th. Stifel Nicolaus lowered their price objective on Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, TD Cowen reduced their target price on Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, November 15th.

Inseego Stock Down 3.8 %

Shares of NASDAQ INSG opened at $11.26 on Thursday. The firm’s 50-day moving average price is $12.44 and its two-hundred day moving average price is $13.50. Inseego Corp. has a 52-week low of $1.62 and a 52-week high of $20.67. The stock has a market capitalization of $168.45 million, a P/E ratio of -6.26 and a beta of 1.49.

Inseego Company Profile

Inseego Corp. engages in the design and development of cloud-managed wireless wide area network (WAN) and intelligent edge solutions for businesses, consumers, and governments worldwide. The company provides 5G and 4G mobile broadband solutions, such as mobile hotspots under the MiFi brand; and 4G VoLTE products and 4G USB modems.