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

Cubist Systematic Strategies LLC lessened its stake in Inseego Corp. (NASDAQ:INSG - Free Report) by 76.3% in the 4th quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INSG. Barclays PLC boosted 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 valued at $67,000 after purchasing an additional 1,686 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Inseego by 6,510.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,044 shares of the technology company's stock worth $556,000 after buying an additional 33,529 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Inseego during the 4th quarter worth approximately $142,000. Stratos Wealth Partners LTD. lifted its position in shares of Inseego by 28.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 34,955 shares of the technology company's stock worth $359,000 after buying an additional 7,744 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Inseego in the fourth quarter valued at $193,000. Institutional investors and hedge funds own 34.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on INSG. Stifel Nicolaus lowered their price objective on shares of Inseego from $11.00 to $8.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Inseego from a "buy" rating to a "hold" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Inseego has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Inseego Trading Up 0.0%

NASDAQ INSG traded up $0.00 during trading hours on Friday, reaching $8.24. 40,143 shares of the company traded hands, compared to its average volume of 187,256. Inseego Corp. has a 12 month low of $6.24 and a 12 month high of $20.67. The company has a 50 day moving average of $8.10 and a two-hundred day moving average of $10.49. The stock has a market capitalization of $123.68 million, a PE ratio of -13.28 and a beta of 1.15.

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

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.