Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) CEO Sells 10,929 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) CEO Charles J. Prober sold 10,929 shares of the 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 sale, the chief executive officer now owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NETGEAR Trading Down 0.3 %

NASDAQ:NTGR traded down $0.09 on Monday, hitting $26.11. The company had a trading volume of 131,052 shares, compared to its average volume of 379,889. NETGEAR, Inc. has a 52 week low of $10.48 and a 52 week high of $31.55. The stock has a market capitalization of $753.80 million, a price-to-earnings ratio of 65.30 and a beta of 0.83. The firm has a 50 day moving average of $27.60 and a two-hundred day moving average of $23.03.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting 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, equities analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James raised their target price on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

Institutional Trading of NETGEAR

Hedge funds have recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of NETGEAR by 66.5% during 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 acquired a new position in NETGEAR during the 4th quarter worth about $72,000. New York State Teachers Retirement System acquired a new position in NETGEAR during the 4th quarter worth about $72,000. Summit Investment Advisors Inc. grew its position in shares of NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock valued at $81,000 after buying an additional 479 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of NETGEAR during the third quarter worth about $91,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.