Caxton Associates LLP Grows Position in NETGEAR, Inc. $NTGR

Caxton Associates LLP increased its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 137.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,950 shares of the communications equipment provider’s stock after purchasing an additional 32,415 shares during the quarter. Caxton Associates LLP’s holdings in NETGEAR were worth $1,222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Windward Management LP acquired a new position in NETGEAR in the fourth quarter valued at about $35,468,000. Concentric Capital Strategies LP acquired a new stake in shares of NETGEAR during the fourth quarter valued at about $7,020,000. Lazard Asset Management LLC increased its position in shares of NETGEAR by 87.6% during the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock valued at $17,779,000 after acquiring an additional 256,266 shares during the last quarter. OP Asset Management Ltd acquired a new stake in shares of NETGEAR during the first quarter valued at about $5,266,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of NETGEAR by 43.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock valued at $23,255,000 after acquiring an additional 218,347 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.00.

NETGEAR Stock Performance

Shares of NASDAQ NTGR opened at $24.93 on Monday. The stock has a market capitalization of $669.12 million, a PE ratio of -28.33 and a beta of 1.19. NETGEAR, Inc. has a twelve month low of $19.00 and a twelve month high of $36.86. The stock has a fifty day simple moving average of $23.97 and a 200-day simple moving average of $23.17.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The firm had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same quarter in the prior year, the company earned $0.02 EPS. NETGEAR’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

Insider Buying and Selling at NETGEAR

In other news, Director Shravan Goli sold 3,381 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.89, for a total value of $90,915.09. Following the completion of the transaction, the director owned 25,857 shares of the company’s stock, valued at approximately $695,294.73. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarah Butterfass sold 2,704 shares of NETGEAR stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the completion of the transaction, the director owned 38,953 shares of the company’s stock, valued at $1,047,835.70. This trade represents a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,085 shares of company stock valued at $318,703 over the last three months. 3.10% of the stock is currently owned by company insiders.

NETGEAR Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.