Inseego Corp. (NASDAQ:INSG) EVP Doug Kahn Sells 5,000 Shares

Inseego Corp. (NASDAQ:INSG) EVP Doug Kahn sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $10.13, for a total transaction of $50,650.00. Following the completion of the transaction, the executive vice president now owns 14,767 shares in the company, valued at approximately $149,589.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of INSG stock opened at $10.28 on Friday. Inseego Corp. has a 12 month low of $7.13 and a 12 month high of $21.93. The stock has a market capitalization of $1.06 billion, a PE ratio of -8.86 and a beta of 1.57. The firm’s 50 day simple moving average is $8.81.

Inseego (NASDAQ:INSG) last announced its earnings results on Wednesday, May 5th. The technology company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.07. The business had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $59.13 million. On average, analysts predict that Inseego Corp. will post -0.53 EPS for the current year.

INSG has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Inseego from a “hold” rating to a “sell” rating in a research report on Friday, May 14th. Stifel Nicolaus restated a “hold” rating and set a $13.00 price objective (down previously from $14.00) on shares of Inseego in a research report on Monday, March 8th. Cowen lowered their price objective on shares of Inseego from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 2nd. Lake Street Capital lowered their price objective on shares of Inseego from $13.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, May 6th. Finally, Canaccord Genuity restated a “hold” rating and set a $12.00 price objective (down previously from $13.00) on shares of Inseego in a research report on Monday, March 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $12.17.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Inseego by 2.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 45,698 shares of the technology company’s stock worth $707,000 after purchasing an additional 1,140 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Inseego by 52.2% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,800 shares of the technology company’s stock worth $82,000 after purchasing an additional 1,303 shares in the last quarter. Swiss National Bank increased its stake in shares of Inseego by 1.6% in the first quarter. Swiss National Bank now owns 146,800 shares of the technology company’s stock worth $1,468,000 after purchasing an additional 2,300 shares in the last quarter. Barclays PLC increased its stake in shares of Inseego by 1.2% in the first quarter. Barclays PLC now owns 201,922 shares of the technology company’s stock worth $2,019,000 after purchasing an additional 2,307 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its stake in shares of Inseego by 22.9% in the first quarter. Hennessy Advisors Inc. now owns 12,977 shares of the technology company’s stock worth $130,000 after purchasing an additional 2,414 shares in the last quarter. 45.77% of the stock is owned by hedge funds and other institutional investors.

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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