NETGEAR (NASDAQ:NTGR) Insider Sells $71,640.00 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 3,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $23.88, for a total transaction of $71,640.00. Following the completion of the transaction, the insider directly owned 154,073 shares in the company, valued at approximately $3,679,263.24. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NETGEAR Stock Down 0.3%

Shares of NASDAQ:NTGR opened at $24.30 on Friday. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The business has a 50 day moving average of $23.76 and a 200-day moving average of $23.23. The stock has a market cap of $652.21 million, a PE ratio of -27.61 and a beta of 1.20.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. The company had revenue of $168.56 million for the quarter, compared to analyst estimates of $157.80 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. Equities research analysts expect that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On NETGEAR

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its stake in NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 429 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of NETGEAR by 6.4% during the first quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock worth $262,000 after buying an additional 725 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after buying an additional 904 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of NETGEAR during the fourth quarter worth $25,000. Finally, Rhumbline Advisers lifted its stake in shares of NETGEAR by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock valued at $1,502,000 after acquiring an additional 1,140 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.