Insider Selling: Barbara Vaughn Scherer Sells 1,667 Shares of NetGear Stock (NTGR)
NetGear (NASDAQ:NTGR) Director Barbara Vaughn Scherer sold 1,667 shares of the company’s stock on the open market in a transaction dated Friday, August 8th. The stock was sold at an average price of $32.76, for a total transaction of $54,610.92. Following the completion of the transaction, the director now directly owns 17,816 shares of the company’s stock, valued at approximately $583,652. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NetGear (NASDAQ:NTGR) traded up 1.53% on Friday, hitting $33.26. 256,280 shares of the company’s stock traded hands. NetGear has a 52 week low of $28.13 and a 52 week high of $36.27. The stock’s 50-day moving average is $33.55 and its 200-day moving average is $33.42. The company has a market cap of $1.194 billion and a P/E ratio of 22.48.
NetGear (NASDAQ:NTGR) last announced its earnings results on Thursday, July 24th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.03. The company had revenue of $337.60 million for the quarter, compared to the consensus estimate of $344.30 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. On average, analysts predict that NetGear will post $2.41 earnings per share for the current fiscal year.
NTGR has been the subject of a number of recent research reports. Analysts at Pacific Crest initiated coverage on shares of NetGear in a research note on Wednesday, July 30th. They set a “sector perform” rating on the stock. Separately, analysts at Zacks downgraded shares of NetGear from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 29th. They now have a $30.40 price target on the stock. Finally, analysts at Northland Securities reiterated an “outperform” rating on shares of NetGear in a research note on Friday, July 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. NetGear has a consensus rating of “Hold” and an average price target of $33.49.
NETGEAR, Inc is a global networking company that delivers products to consumers, businesses and service providers.
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