Pramod Badjate Sells 3,000 Shares of NETGEAR (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 3,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the transaction, the insider directly owned 154,073 shares in the company, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NETGEAR Trading Up 1.7%

NETGEAR stock traded up $0.41 during midday trading on Tuesday, reaching $24.56. 325,174 shares of the stock traded hands, compared to its average volume of 369,041. The firm has a market cap of $659.19 million, a PE ratio of -27.91 and a beta of 1.20. The company has a 50-day simple moving average of $23.81 and a two-hundred day simple moving average of $23.20. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Johnson Financial Group Inc. acquired a new position in shares of NETGEAR during the fourth quarter worth about $25,000. Comerica Bank lifted its stake in NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 429 shares during the last quarter. IFP Advisors Inc lifted its stake in NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 1,386 shares during the last quarter. Fifth Third Bancorp grew its holdings in NETGEAR by 6,085.7% during the 1st quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after acquiring an additional 2,982 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in NETGEAR during the 4th quarter worth approximately $89,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.