Algert Global LLC Purchases 17,599 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Algert Global LLC raised its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,284 shares of the communications equipment provider's stock after acquiring an additional 17,599 shares during the quarter. Algert Global LLC owned approximately 0.44% of NETGEAR worth $3,547,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NTGR. Barclays PLC increased its stake in shares of NETGEAR by 10.5% during the third quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider's stock worth $870,000 after purchasing an additional 4,125 shares during the period. Franklin Resources Inc. grew its position in shares of NETGEAR by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider's stock worth $883,000 after purchasing an additional 2,166 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of NETGEAR in the fourth quarter valued at approximately $375,000. Inspire Investing LLC bought a new position in NETGEAR during the 4th quarter worth $852,000. Finally, R Squared Ltd bought a new stake in shares of NETGEAR during the 4th quarter valued at $72,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, CFO Murray Bryan sold 2,671 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total transaction of $75,028.39. Following the completion of the sale, the chief financial officer now owns 178,945 shares in the company, valued at $5,026,565.05. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,448 shares of company stock worth $458,221 in the last quarter. 7.00% of the stock is owned by corporate insiders.

NETGEAR Stock Performance

Shares of NTGR traded up $0.42 during mid-day trading on Monday, reaching $29.59. 186,392 shares of the company were exchanged, compared to its average volume of 403,187. The business has a 50 day simple moving average of $23.89 and a two-hundred day simple moving average of $25.26. NETGEAR, Inc. has a 52 week low of $12.08 and a 52 week high of $31.55. The stock has a market capitalization of $851.52 million, a PE ratio of 73.73 and a beta of 1.09.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.37. The company had revenue of $162.06 million during the quarter, compared to analysts' expectations of $152.24 million. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. NETGEAR's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.28) earnings per share. On average, analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Wall Street Analysts Forecast Growth

NTGR has been the subject of several recent analyst reports. Raymond James upped their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the stock 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 Monday, May 5th.

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.