Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) Director Sells 2,000 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction on 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 in the company, valued at $1,859,726.70. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NETGEAR Stock Up 4.8 %

NTGR traded up $1.23 during trading on Wednesday, reaching $26.91. 949,185 shares of the company were exchanged, compared to its average volume of 272,591. NETGEAR, Inc. has a 12-month low of $10.48 and a 12-month high of $31.55. The company’s 50-day moving average is $23.34 and its two-hundred day moving average is $18.77. The company has a market cap of $774.20 million, a price-to-earnings ratio of 41.40 and a beta of 0.86.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in NETGEAR by 10.6% in the 2nd quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock worth $4,024,000 after buying an additional 25,200 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of NETGEAR by 125.0% during the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock valued at $1,957,000 after purchasing an additional 71,054 shares during the last quarter. Brandes Investment Partners LP raised its position in NETGEAR by 6.8% in the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after purchasing an additional 247,162 shares during the period. Empowered Funds LLC lifted its stake in NETGEAR by 23.2% in the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock worth $2,848,000 after purchasing an additional 26,756 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in NETGEAR during the third quarter valued at about $1,805,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

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.