NETGEAR (NASDAQ:NTGR) Sees Large Volume Increase – Here’s Why

NETGEAR, Inc. (NASDAQ:NTGR) shares saw unusually-high trading volume on Tuesday . Approximately 183,167 shares changed hands during trading, a decline of 19% from the previous session’s volume of 227,502 shares.The stock last traded at $27.31 and had previously closed at $27.17.

Analysts Set New Price Targets

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

NETGEAR Price Performance

The firm has a market capitalization of $795.35 million, a P/E ratio of 42.53 and a beta of 0.83. The firm’s 50 day moving average is $25.95 and its two-hundred day moving average is $20.88.

Insider Activity

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the completion of the transaction, the director now directly owns 61,135 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

Institutional Trading of NETGEAR

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP lifted its position in 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 acquiring an additional 741 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in NETGEAR during the 3rd quarter worth approximately $91,000. Values First Advisors Inc. bought a new stake in NETGEAR in the 3rd quarter valued at $144,000. Versor Investments LP acquired a new position in NETGEAR in the 3rd quarter valued at $235,000. Finally, Creative Planning bought a new position in NETGEAR during the 3rd quarter worth $235,000. Institutional investors own 82.97% of the company’s stock.

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.