Laura Durr Sells 1,000 Shares of NETGEAR (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Laura Durr sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total transaction of $26,760.00. Following the sale, the director directly owned 42,059 shares of the company’s stock, valued at approximately $1,125,498.84. This trade represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Laura Durr also recently made the following trade(s):

• On Monday, June 1st, Laura Durr sold 2,000 shares of NETGEAR stock. The stock was sold at an average price of $25.94, for a total transaction of $51,880.00.

NETGEAR Price Performance

NTGR opened at $25.74 on Friday. The company has a market cap of $690.86 million, a price-to-earnings ratio of -29.25 and a beta of 1.17. The firm has a 50 day simple moving average of $24.98 and a 200 day simple moving average of $23.62. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86.

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

Institutional Investors Weigh In On NETGEAR

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in NETGEAR by 71.5% in the first quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock valued at $5,258,000 after purchasing an additional 100,368 shares in the last quarter. Royal Bank of Canada increased its stake in NETGEAR by 354.2% in the first quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock valued at $533,000 after purchasing an additional 19,019 shares in the last quarter. Empowered Funds LLC increased its stake in NETGEAR by 15.5% in the first quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock valued at $3,492,000 after purchasing an additional 21,469 shares in the last quarter. Renaissance Technologies LLC increased its stake in NETGEAR by 77.8% in the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after purchasing an additional 243,843 shares in the last quarter. Finally, Caxton Associates LLP increased its stake in NETGEAR by 137.7% in the first quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock valued at $1,222,000 after purchasing an additional 32,415 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research note on Thursday, February 5th. Finally, Wall Street Zen raised 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.00.

About NETGEAR

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.