Inseego (NASDAQ:INSG) Director Sound Trading Lp North Acquires 31,094 Shares

Key Points

• Inseego Director Sound Trading Lp North acquired 31,094 shares on August 13th at an average price of $8.98, raising their total ownership to approximately 2.13 million shares valued at $19.12 million.
• Following additional trades, Inseego shares recently saw a price decline of 4.8% during trading hours, falling to $8.78 with a market capitalization of $132.05 million.
• Analysts have a consensus rating of "Moderate Buy" for Inseego with an average price target of $13.00, even as some ratings were recently downgraded to "hold."

Inseego (NASDAQ:INSG - Get Free Report) Director Sound Trading Lp North bought 31,094 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $8.98 per share, for a total transaction of $279,224.12. Following the acquisition, the director directly owned 2,128,669 shares of the company's stock, valued at approximately $19,115,447.62. The trade was a 1.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Sound Trading Lp North also recently made the following trade(s):

• On Thursday, August 14th, Sound Trading Lp North bought 15,100 shares of Inseego stock. The shares were acquired at an average price of $8.93 per share, for a total transaction of $134,843.00.
• On Tuesday, August 12th, Sound Trading Lp North bought 8,807 shares of Inseego stock. The shares were acquired at an average price of $7.44 per share, for a total transaction of $65,524.08.

Inseego Trading Down 4.8%

Shares of INSG traded down $0.44 during trading hours on Thursday, hitting $8.78. 184,231 shares of the stock traded hands, compared to its average volume of 185,964. Inseego has a 1-year low of $6.24 and a 1-year high of $20.67. The firm has a market capitalization of $132.05 million, a PE ratio of -25.09, a price-to-earnings-growth ratio of 2.79 and a beta of 1.10. The business has a fifty day moving average of $7.66 and a 200-day moving average of $8.71.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen cut Inseego from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Stifel Nicolaus decreased their target price on Inseego from $11.00 to $8.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Hedge Funds Weigh In On Inseego

Large investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Inseego during the second quarter valued at $28,000. JPMorgan Chase & Co. increased its holdings in Inseego by 3,087.9% in the second quarter. JPMorgan Chase & Co. now owns 6,057 shares of the technology company's stock valued at $50,000 after purchasing an additional 5,867 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Inseego by 258.1% in the fourth quarter. BNP Paribas Financial Markets now owns 4,924 shares of the technology company's stock valued at $51,000 after purchasing an additional 3,549 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Inseego by 2,862.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,244 shares of the technology company's stock worth $53,000 after buying an additional 5,067 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Inseego in the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 34.20% of the company's stock.

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.

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