Picton Mahoney Asset Management Invests $92,000 in NETGEAR, Inc. (NASDAQ:NTGR)

Picton Mahoney Asset Management purchased a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,300 shares of the communications equipment provider’s stock, valued at approximately $92,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP raised its holdings in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the period. R Squared Ltd bought a new stake in shares of NETGEAR in the 4th quarter valued at $72,000. New York State Teachers Retirement System acquired a new stake in NETGEAR during the 4th quarter worth $72,000. Meeder Asset Management Inc. bought a new position in NETGEAR during the third quarter worth about $91,000. Finally, AlphaQuest LLC acquired a new position in NETGEAR in the fourth quarter valued at about $185,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at NETGEAR

In related news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the sale, the director now owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the transaction, the chief executive officer now owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NTGR shares. StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a report on Thursday. Raymond James lifted their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

NETGEAR Price Performance

Shares of NETGEAR stock opened at $23.90 on Monday. The firm has a market cap of $689.97 million, a price-to-earnings ratio of 59.75 and a beta of 0.72. The stock’s 50-day moving average is $26.73 and its 200-day moving average is $23.98. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, equities analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current year.

About NETGEAR

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.