NETGEAR, Inc. (NASDAQ:NTGR) Director Sells $60,840.00 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the sale, the director now directly owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

NETGEAR Stock Performance

Shares of NASDAQ NTGR traded up $1.23 during trading hours on Wednesday, hitting $26.91. The company’s stock had a trading volume of 949,185 shares, compared to its average volume of 272,591. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The stock has a market cap of $774.20 million, a price-to-earnings ratio of 41.40 and a beta of 0.86. The business has a 50-day simple moving average of $23.34 and a 200-day simple moving average of $18.77.

Institutional Investors Weigh In On NETGEAR

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in NETGEAR by 10.6% in the second quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock worth $4,024,000 after acquiring an additional 25,200 shares during the period. Federated Hermes Inc. raised its holdings in NETGEAR by 125.0% in the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after purchasing an additional 71,054 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of NETGEAR by 6.8% in the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after purchasing an additional 247,162 shares during the period. Empowered Funds LLC boosted its stake in shares of NETGEAR by 23.2% during the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock valued at $2,848,000 after purchasing an additional 26,756 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of NETGEAR during the third quarter valued at about $1,805,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a report 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.