Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) CFO Sells 3,848 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) CFO Murray Bryan sold 3,848 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at $4,617,325.44. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NETGEAR Stock Down 0.7 %

Shares of NETGEAR stock traded down $0.18 during trading on Monday, hitting $23.72. The stock had a trading volume of 240,461 shares, compared to its average volume of 299,770. The stock has a 50 day simple moving average of $26.73 and a 200 day simple moving average of $23.98. The company has a market capitalization of $684.80 million, a PE ratio of 59.30 and a beta of 0.72. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $31.55.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data 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 net margin of 1.83% and a negative return on equity of 9.24%. As a group, equities analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NTGR shares. Raymond James boosted their target price on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a report on Thursday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in NETGEAR by 23.2% during the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock valued at $2,848,000 after purchasing an additional 26,756 shares in the last quarter. Rhumbline Advisers grew its position in NETGEAR by 32.0% in the fourth quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider’s stock worth $1,946,000 after acquiring an additional 16,920 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in NETGEAR by 285.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after acquiring an additional 59,005 shares in the last quarter. Inspire Investing LLC bought a new stake in NETGEAR in the fourth quarter worth approximately $852,000. Finally, Bailard Inc. bought a new stake in NETGEAR in the fourth quarter worth approximately $362,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.