NETGEAR (NASDAQ:NTGR) Director Sarah Butterfass Sells 2,704 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Sarah Butterfass sold 2,704 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.90, for a total transaction of $72,737.60. Following the sale, the director directly owned 38,953 shares in the company, valued at approximately $1,047,835.70. The trade was a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NETGEAR Stock Down 3.9%

Shares of NTGR opened at $26.19 on Thursday. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The firm’s 50 day moving average price is $24.95 and its 200 day moving average price is $23.63. The company has a market cap of $702.94 million, a P/E ratio of -29.76 and a beta of 1.17.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm had revenue of $158.82 million for the quarter, compared to the consensus estimate of $152.49 million. During the same period in the prior year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts forecast that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On NETGEAR

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of NETGEAR by 71.5% in the 1st quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock valued at $5,258,000 after purchasing an additional 100,368 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of NETGEAR by 354.2% in the 1st quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock valued at $533,000 after buying an additional 19,019 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of NETGEAR by 15.5% in the 1st quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock valued at $3,492,000 after buying an additional 21,469 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of NETGEAR by 77.8% in the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after buying an additional 243,843 shares in the last quarter. Finally, Caxton Associates LLP boosted its holdings in shares of NETGEAR by 137.7% in the 1st quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock valued at $1,222,000 after buying an additional 32,415 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a research report on Thursday, February 5th. Finally, Zacks Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NETGEAR presently has a consensus rating of “Hold” and a consensus price target of $36.00.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.