Raymond James Financial Services Advisors Inc. Has $572,000 Stock Position in Inseego Corp. (NASDAQ:INSG)

Raymond James Financial Services Advisors Inc. increased its stake in Inseego Corp. (NASDAQ:INSG) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,996 shares of the technology company’s stock after buying an additional 4,703 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Inseego were worth $572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Inseego by 8.5% in the 4th quarter. BlackRock Inc. now owns 4,699,628 shares of the technology company’s stock valued at $72,705,000 after buying an additional 366,298 shares during the last quarter. State Street Corp boosted its holdings in shares of Inseego by 2.7% in the 3rd quarter. State Street Corp now owns 1,393,926 shares of the technology company’s stock valued at $14,385,000 after buying an additional 37,260 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Inseego by 150.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 428,487 shares of the technology company’s stock valued at $4,422,000 after buying an additional 257,255 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Inseego by 30.0% in the 3rd quarter. Wells Fargo & Company MN now owns 285,016 shares of the technology company’s stock valued at $2,941,000 after buying an additional 65,833 shares during the last quarter. Finally, Credit Suisse AG acquired a new stake in shares of Inseego in the 4th quarter valued at approximately $4,251,000. 47.30% of the stock is owned by institutional investors.

In related news, EVP Doug Kahn sold 5,208 shares of the firm’s stock in a transaction on Thursday, January 14th. The stock was sold at an average price of $15.00, for a total value of $78,120.00. Following the transaction, the executive vice president now owns 9,321 shares in the company, valued at $139,815. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan Mondor sold 75,000 shares of the firm’s stock in a transaction on Wednesday, February 10th. The stock was sold at an average price of $20.67, for a total value of $1,550,250.00. Following the completion of the transaction, the chief executive officer now owns 231,488 shares in the company, valued at approximately $4,784,856.96. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on INSG shares. Cowen dropped their price target on Inseego from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 2nd. Stifel Nicolaus restated a “hold” rating and issued a $13.00 price target (down previously from $14.00) on shares of Inseego in a research note on Monday, March 8th. Canaccord Genuity restated a “hold” rating and issued a $12.00 price target (down previously from $13.00) on shares of Inseego in a research note on Monday, March 8th. Zacks Investment Research cut Inseego from a “hold” rating to a “sell” rating in a research report on Friday, March 5th. Finally, Lake Street Capital reiterated a “hold” rating and set a $13.00 price objective (down previously from $17.00) on shares of Inseego in a research report on Monday, March 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.83.

INSG stock opened at $9.14 on Thursday. The stock has a market capitalization of $931.15 million, a price-to-earnings ratio of -7.55 and a beta of 1.92. The business’s fifty day moving average price is $11.71 and its two-hundred day moving average price is $12.65. Inseego Corp. has a fifty-two week low of $7.56 and a fifty-two week high of $21.93.

Inseego (NASDAQ:INSG) last issued its quarterly earnings results on Monday, March 1st. The technology company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). The company had revenue of $86.10 million during the quarter, compared to the consensus estimate of $83.80 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was up 64.6% compared to the same quarter last year. Equities research analysts expect that Inseego Corp. will post -1.08 earnings per share for the current fiscal year.

About Inseego

Inseego Corp. engages in the design and development of fixed and mobile wireless solutions, industrial Internet of Things (IIoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 4G and 5G hardware products for vertical markets, including private LTE/5G networks, First responders network authority/Firstnet, SD-WAN, telematics, remote monitoring and surveillance, and fixed wireless access and mobile broadband devices.

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Institutional Ownership by Quarter for Inseego (NASDAQ:INSG)

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