NETGEAR, Inc. (NASDAQ:NTGR) CFO Murray Bryan Sells 3,848 Shares

NETGEAR, Inc. (NASDAQ:NTGR) CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the sale, the chief financial officer now directly owns 193,032 shares of the company’s stock, valued at approximately $4,617,325.44. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NETGEAR Price Performance

Shares of NASDAQ:NTGR opened at $23.70 on Tuesday. The stock has a market capitalization of $684.20 million, a P/E ratio of 59.25 and a beta of 0.72. The business has a 50-day moving average of $26.66 and a two-hundred day moving average of $24.03. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP boosted its holdings in NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 741 shares during the period. New York State Teachers Retirement System bought a new stake in NETGEAR during the 4th quarter valued at approximately $72,000. R Squared Ltd acquired a new stake in NETGEAR in the 4th quarter valued at approximately $72,000. Summit Investment Advisors Inc. increased 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 worth $81,000 after buying an additional 479 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of NETGEAR during the fourth quarter worth approximately $92,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTGR has been the subject of several research reports. StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Raymond James lifted their target price on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

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.