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 company’s stock in a transaction that occurred on 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 owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

NETGEAR Stock Performance

NASDAQ:NTGR opened at $25.72 on Tuesday. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55. The company has a 50 day moving average price of $27.60 and a 200 day moving average price of $23.03. The stock has a market capitalization of $742.54 million, a P/E ratio of 64.30 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results 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%. Research analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NETGEAR

Institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of NETGEAR by 126.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider’s stock worth $18,818,000 after purchasing an additional 376,974 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in NETGEAR during the 4th quarter worth approximately $5,357,000. American Century Companies Inc. boosted its position 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 valued at $21,473,000 after buying an additional 184,863 shares during the period. Tenzing Global Management LLC purchased a new position in NETGEAR in the 3rd quarter valued at approximately $3,510,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of NETGEAR in the fourth quarter worth $4,449,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NTGR shares. Raymond James lifted their target price on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. 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.