Geode Capital Management LLC Boosts Stock Holdings in Inseego Corp. (NASDAQ:INSG)

Geode Capital Management LLC raised its holdings in Inseego Corp. (NASDAQ:INSG) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,304 shares of the technology company’s stock after purchasing an additional 7,325 shares during the quarter. Geode Capital Management LLC owned 0.85% of Inseego worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INSG. Aviva Holdings Ltd. acquired a new stake in shares of Inseego in the 3rd quarter valued at approximately $41,219,000. Marshall Wace LLP acquired a new stake in Inseego in the second quarter valued at $833,000. Renaissance Technologies LLC purchased a new stake in shares of Inseego during the 2nd quarter worth $274,000. Jane Street Group LLC grew its stake in shares of Inseego by 142.9% during the 3rd quarter. Jane Street Group LLC now owns 24,307 shares of the technology company’s stock worth $397,000 after purchasing an additional 80,996 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Inseego in the 3rd quarter valued at about $353,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

INSG has been the topic of a number of research analyst reports. Roth Mkm raised shares of Inseego from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $15.00 in a report on Thursday, November 14th. Roth Capital upgraded shares of Inseego from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 14th. TD Cowen lowered their price target on Inseego from $20.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Finally, Stifel Nicolaus dropped their price objective on Inseego from $17.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, December 20th.

Insider Activity

In related news, Chairman Philip G. Brace purchased 10,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $12.40 per share, with a total value of $124,000.00. Following the completion of the acquisition, the chairman now directly owns 177,763 shares in the company, valued at $2,204,261.20. The trade was a 5.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Inseego Trading Down 3.8 %

Shares of NASDAQ INSG opened at $11.26 on Thursday. The company’s 50-day moving average price is $12.44 and its 200 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 cap of $168.45 million, a price-to-earnings ratio of -6.26 and a beta of 1.49.

Inseego 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.