NETGEAR (NASDAQ:NTGR) Insider Sells $76,410.00 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.47, for a total transaction of $76,410.00. Following the completion of the transaction, the insider owned 165,513 shares in the company, valued at approximately $4,215,616.11. This represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NETGEAR Price Performance

NETGEAR stock traded down $0.54 during trading hours on Monday, hitting $24.71. The company had a trading volume of 380,156 shares, compared to its average volume of 542,696. The firm has a market capitalization of $675.57 million, a P/E ratio of -28.08 and a beta of 1.18. The firm’s fifty day moving average is $22.87 and its 200-day moving average is $24.54. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.14. The firm had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. Analysts anticipate that NETGEAR, Inc. will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Johnson Financial Group Inc. acquired a new position in shares of NETGEAR during the 4th quarter worth $25,000. Comerica Bank increased its stake in shares of NETGEAR by 64.8% during the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares during the last quarter. IFP Advisors Inc increased its stake in shares of NETGEAR by 161.7% during the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 1,386 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of NETGEAR by 44.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 718 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its stake in shares of NETGEAR by 50.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTGR. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a research note on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.00.

NETGEAR Company 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.