Insider Selling: NetGear, Inc. (NTGR) SVP Sells 417 Shares of Stock
NetGear, Inc. (NASDAQ:NTGR) SVP Patrick J. Collins III sold 417 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $42.75, for a total value of $17,826.75. Following the completion of the transaction, the senior vice president now owns 16,624 shares in the company, valued at approximately $710,676. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
NetGear, Inc. (NASDAQ:NTGR) traded down 0.93% on Thursday, hitting $42.55. The stock had a trading volume of 378,638 shares. NetGear, Inc. has a one year low of $41.85 and a one year high of $60.82. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 19.18 and a beta of 1.62. The stock’s 50 day moving average is $47.34 and its 200 day moving average is $52.45.
NetGear (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $323.70 million for the quarter, compared to analyst estimates of $309.48 million. NetGear had a return on equity of 12.00% and a net margin of 5.71%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. Analysts anticipate that NetGear, Inc. will post $2.65 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of NTGR. Envestnet Asset Management Inc. increased its position in NetGear by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after buying an additional 304 shares during the period. Victory Capital Management Inc. increased its position in NetGear by 42.8% in the first quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after buying an additional 817 shares during the period. Ameritas Investment Partners Inc. acquired a new position in NetGear during the first quarter valued at $139,000. Elkfork Partners LLC acquired a new position in NetGear during the fourth quarter valued at $144,000. Finally, US Bancorp DE increased its position in NetGear by 9.2% in the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 272 shares during the period. 98.73% of the stock is currently owned by institutional investors and hedge funds.
NTGR has been the topic of a number of research reports. Zacks Investment Research upgraded NetGear from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Raymond James Financial, Inc. restated a “market perform” rating on shares of NetGear in a report on Wednesday, February 8th. Finally, Off Wall Street restated a “sell” rating and issued a $36.00 price objective on shares of NetGear in a report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.79.
NetGear Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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