Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) CFO Sells $92,044.16 in Stock

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

NETGEAR Stock Up 3.9 %

Shares of NASDAQ:NTGR opened at $24.79 on Thursday. The firm’s 50 day moving average price is $26.54 and its 200-day moving average price is $24.09. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55. The stock has a market capitalization of $715.66 million, a PE ratio of 61.98 and a beta of 0.72.

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

Institutional Investors Weigh In On NETGEAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in NETGEAR by 23.2% during the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock worth $2,848,000 after acquiring an additional 26,756 shares during the period. Rhumbline Advisers raised its stake in NETGEAR by 32.0% during the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider’s stock worth $1,946,000 after acquiring an additional 16,920 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in NETGEAR by 285.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after acquiring an additional 59,005 shares during the period. Inspire Investing LLC bought a new stake in NETGEAR during the 4th quarter worth approximately $852,000. Finally, Bailard Inc. bought a new stake in NETGEAR during the 4th quarter worth approximately $362,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

NTGR has been the topic of several research analyst reports. Raymond James upped 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. StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th.

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.