Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) CEO Sells 10,929 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NETGEAR Price Performance

Shares of NASDAQ:NTGR traded down $0.09 during mid-day trading on Monday, hitting $26.11. The company had a trading volume of 131,052 shares, compared to its average volume of 379,889. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55. The firm has a fifty day moving average price of $27.60 and a 200 day moving average price of $23.03. The company has a market capitalization of $753.80 million, a PE ratio of 65.30 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. Research analysts expect that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTGR. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Raymond James upped their target price on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th.

Institutional Trading of NETGEAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTGR. Quarry LP boosted its holdings in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 741 shares in the last quarter. R Squared Ltd acquired a new position in shares of NETGEAR during the fourth quarter worth approximately $72,000. New York State Teachers Retirement System bought a new position in shares of NETGEAR in the 4th quarter worth $72,000. Summit Investment Advisors Inc. grew its position in NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 479 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in NETGEAR in the 3rd quarter valued at $91,000. 82.97% of the stock is owned by institutional investors.

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.