Dimensional Fund Advisors LP Sells 328,698 Shares of NETGEAR, Inc. $NTGR

Key Points

• Dimensional Fund Advisors reduced its NETGEAR stake by 22.8%, selling 328,698 shares during the first quarter. It still held 1.11 million shares, worth approximately $24.3 million and representing 4.15% of the company.
• Analyst sentiment remains mixed, with two Buy ratings, one Hold and one Sell; the consensus rating is Hold with a $36 price target. NETGEAR shares opened at $24.38, within a 12-month range of $19.00 to $36.86.
• Institutional investors own 82.97% of NETGEAR, while insiders own 3.10%. Company directors sold shares under pre-arranged Rule 10b5-1 plans, contributing to 12,085 insider shares sold over the past 90 days.

Dimensional Fund Advisors LP trimmed its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,112,860 shares of the communications equipment provider's stock after selling 328,698 shares during the period. Dimensional Fund Advisors LP owned about 4.15% of NETGEAR worth $24,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NTGR. Comerica Bank boosted its stake in shares of NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 429 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider's stock worth $101,000 after buying an additional 904 shares during the period. Johnson Financial Group Inc. bought a new stake in NETGEAR during the 4th quarter valued at $25,000. Rhumbline Advisers boosted its position in NETGEAR by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider's stock valued at $1,502,000 after acquiring an additional 1,140 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of NETGEAR by 5.3% in the 3rd quarter. Creative Planning now owns 24,014 shares of the communications equipment provider's stock valued at $778,000 after acquiring an additional 1,219 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $36.00.

NETGEAR Stock Down 0.7%

Shares of NTGR opened at $24.38 on Thursday. The company has a 50 day moving average of $23.79 and a two-hundred day moving average of $23.21. The company has a market cap of $654.36 million, a price-to-earnings ratio of -27.70 and a beta of 1.20. NETGEAR, Inc. has a twelve month low of $19.00 and a twelve month high of $36.86.

Insiders Place Their Bets

In other NETGEAR news, Director Shravan Goli sold 3,381 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.89, for a total value of $90,915.09. Following the completion of the sale, the director directly owned 25,857 shares in the company, valued at approximately $695,294.73. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura Durr sold 2,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the completion of the sale, the director directly owned 43,059 shares of the company's stock, valued at approximately $1,116,950.46. This represents a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,085 shares of company stock valued at $313,933 in the last 90 days. Corporate insiders own 3.10% of the company's stock.

NETGEAR Profile

NETGEAR, Inc NASDAQ: NTGR is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.

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