Algert Global LLC Sells 60,180 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Algert Global LLC decreased its position in NETGEAR, Inc. (NASDAQ:NTGR) by 35.4% in the third quarter, Holdings Channel.com reports. The firm owned 109,685 shares of the communications equipment provider’s stock after selling 60,180 shares during the quarter. Algert Global LLC’s holdings in NETGEAR were worth $2,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in NETGEAR by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider’s stock valued at $596,000 after acquiring an additional 1,247 shares during the period. Rhumbline Advisers increased its stake in shares of NETGEAR by 4.2% during the second quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock valued at $721,000 after purchasing an additional 1,904 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of NETGEAR during the third quarter valued at approximately $91,000. Values First Advisors Inc. bought a new stake in shares of NETGEAR in the 3rd quarter worth approximately $144,000. Finally, Bank of New York Mellon Corp grew its stake in shares of NETGEAR by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 123,410 shares of the communications equipment provider’s stock worth $1,888,000 after buying an additional 8,050 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the transaction, the director now directly owns 65,318 shares of the company’s stock, valued at $1,306,360. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.00% of the company’s stock.

NETGEAR Price Performance

Shares of NETGEAR stock opened at $25.07 on Wednesday. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $25.20. The firm’s 50-day moving average is $21.73 and its 200 day moving average is $17.46. The stock has a market cap of $721.26 million, a price-to-earnings ratio of 38.57 and a beta of 0.83.

Analyst Ratings Changes

Separately, StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.