Martingale Asset Management L P Raises Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Martingale Asset Management L P raised its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 119.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,627 shares of the communications equipment provider’s stock after acquiring an additional 31,902 shares during the period. Martingale Asset Management L P owned approximately 0.20% of NETGEAR worth $1,634,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of NETGEAR in the 4th quarter valued at about $72,000. New York State Teachers Retirement System purchased a new position in shares of NETGEAR during the fourth quarter worth about $72,000. Picton Mahoney Asset Management acquired a new stake in shares of NETGEAR in the 4th quarter worth $92,000. AlphaQuest LLC purchased a new stake in NETGEAR in the 4th quarter valued at approximately $185,000. Finally, New York State Common Retirement Fund boosted its stake in shares of NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 2,500 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NETGEAR

In related news, CFO Murray Bryan sold 3,848 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at $13,526,806.32. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NTGR shares. StockNews.com cut shares of NETGEAR from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Raymond James raised their price objective on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

NETGEAR Trading Up 2.4 %

Shares of NASDAQ NTGR opened at $22.64 on Friday. NETGEAR, Inc. has a 52 week low of $10.48 and a 52 week high of $31.55. The stock has a market cap of $653.59 million, a price-to-earnings ratio of 56.60 and a beta of 1.03. The company’s 50-day moving average price is $25.01 and its 200 day moving average price is $24.64.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, research analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.