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 stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

NETGEAR Stock Performance

Shares of NETGEAR stock opened at $26.27 on Thursday. The stock has a market cap of $758.39 million, a P/E ratio of 65.68 and a beta of 0.83. The stock’s fifty day moving average is $27.59 and its 200 day moving average is $23.20. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, hitting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. Analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Hedge Funds Weigh In On NETGEAR

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of NETGEAR by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,332,316 shares of the communications equipment provider’s stock worth $37,132,000 after purchasing an additional 44,752 shares in the last quarter. American Century Companies Inc. boosted its holdings in NETGEAR by 31.6% in the 4th quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider’s stock worth $21,473,000 after buying an additional 184,863 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in NETGEAR by 126.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider’s stock worth $18,818,000 after buying an additional 376,974 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in NETGEAR by 22.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 506,756 shares of the communications equipment provider’s stock worth $14,123,000 after buying an additional 93,737 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in NETGEAR by 47.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider’s stock valued at $11,319,000 after acquiring an additional 131,243 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NTGR. Raymond James upped their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com raised 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.