JPMorgan Chase & Co. Buys 33,529 Shares of Inseego Corp. (NASDAQ:INSG)

JPMorgan Chase & Co. lifted its holdings in shares of Inseego Corp. (NASDAQ:INSG - Free Report) by 6,510.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,044 shares of the technology company's stock after purchasing an additional 33,529 shares during the period. JPMorgan Chase & Co. owned about 0.23% of Inseego worth $556,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Quarry LP bought a new position in Inseego during the 3rd quarter worth approximately $26,000. Barclays PLC grew its holdings 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 purchasing an additional 1,686 shares during the last quarter. Covestor Ltd purchased a new position in shares of Inseego in the third quarter worth $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Inseego during the 3rd quarter valued at $73,000. Finally, Geode Capital Management LLC boosted its position in Inseego by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 104,304 shares of the technology company's stock valued at $1,704,000 after buying an additional 7,325 shares during the period. Hedge funds and other institutional investors own 34.20% of the company's stock.

Inseego Price Performance

INSG traded down $0.02 on Friday, hitting $12.11. The company had a trading volume of 39,956 shares, compared to its average volume of 102,912. Inseego Corp. has a 52-week low of $2.08 and a 52-week high of $20.67. The stock has a fifty day simple moving average of $11.28 and a 200-day simple moving average of $13.53. The firm has a market capitalization of $181.14 million, a P/E ratio of -6.72 and a beta of 1.49.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TD Cowen lowered their price objective on shares of Inseego from $20.00 to $16.00 and set a "hold" rating for the company in a research note on Friday, November 15th. Roth Mkm raised Inseego from a "neutral" rating to a "buy" rating and upped their price target for the company from $13.00 to $15.00 in a research report on Thursday, November 14th. Stifel Nicolaus cut their price objective on Inseego from $17.00 to $12.00 and set a "hold" rating on the stock in a research report on Friday, December 20th. Finally, Roth Capital raised Inseego from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 14th.

Insider Activity

In other news, Chairman Philip G. Brace acquired 10,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the acquisition, the chairman now owns 177,763 shares in the company, valued at $2,204,261.20. This trade represents a 5.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

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.