Cubist Systematic Strategies LLC Sells 37,018 Shares of Inseego Corp. (NASDAQ:INSG)

Cubist Systematic Strategies LLC lessened its position in Inseego Corp. (NASDAQ:INSG - Free Report) by 76.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,528 shares of the technology company's stock after selling 37,018 shares during the period. Cubist Systematic Strategies LLC owned about 0.08% of Inseego worth $118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INSG. Barclays PLC lifted its stake in shares of Inseego by 71.3% in the third quarter. Barclays PLC now owns 4,051 shares of the technology company's stock worth $67,000 after buying an additional 1,686 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Inseego by 6,510.5% during the third quarter. JPMorgan Chase & Co. now owns 34,044 shares of the technology company's stock valued at $556,000 after purchasing an additional 33,529 shares during the period. Diversify Advisory Services LLC bought a new position in Inseego during the fourth quarter valued at approximately $142,000. Stratos Wealth Partners LTD. lifted its position in Inseego by 28.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 34,955 shares of the technology company's stock valued at $359,000 after purchasing an additional 7,744 shares during the period. Finally, Victory Capital Management Inc. bought a new position in Inseego during the fourth quarter valued at approximately $193,000. Institutional investors own 34.20% of the company's stock.

Analyst Ratings Changes

INSG has been the topic of several recent research reports. Stifel Nicolaus decreased their price target on shares of Inseego from $11.00 to $8.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen cut shares of Inseego from a "buy" rating to a "hold" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.00.

Inseego Stock Down 1.2%

NASDAQ INSG traded down $0.10 during trading hours on Friday, reaching $8.14. The company's stock had a trading volume of 98,684 shares, compared to its average volume of 187,301. The firm's 50-day moving average price is $8.08 and its 200-day moving average price is $10.39. Inseego Corp. has a 1 year low of $6.24 and a 1 year high of $20.67. The company has a market capitalization of $122.17 million, a price-to-earnings ratio of -13.13 and a beta of 1.15.

Inseego (NASDAQ:INSG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The technology company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). Inseego had a negative return on equity of 4.08% and a net margin of 2.22%. The business had revenue of $48.09 million during the quarter, compared to analysts' expectations of $45.56 million. Equities research analysts anticipate that Inseego Corp. will post -0.06 EPS for the current fiscal year.

About Inseego

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.