Hara Capital LLC Acquires New Position in NETGEAR, Inc. $NTGR

Key Points

• Hara Capital acquired 62,340 NETGEAR shares worth approximately $1.46 million, joining other institutional investors that increased or initiated positions. Institutional investors and hedge funds collectively own 82.97% of the company.
• NETGEAR beat quarterly earnings expectations, reporting adjusted EPS of $0.16 versus the $0.01 consensus and revenue of $168.56 million versus estimates of $157.80 million. However, revenue declined 1.2% year over year, and analysts expect a full-year loss.
• NETGEAR shares opened at $21.10, below their 50-day and 200-day moving averages. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $36.50, while insiders have sold 12,085 shares worth about $313,933 over the past 90 days.

Hara Capital LLC purchased a new position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62,340 shares of the communications equipment provider's stock, valued at approximately $1,456,000. Hara Capital LLC owned approximately 0.23% of NETGEAR as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in NETGEAR during the 2nd quarter worth about $82,799,000. Vanguard Group Inc. boosted its stake in shares of NETGEAR by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider's stock valued at $62,386,000 after buying an additional 74,457 shares during the period. Brandes Investment Partners LP grew its position in shares of NETGEAR by 10.8% during the fourth quarter. Brandes Investment Partners LP now owns 1,855,555 shares of the communications equipment provider's stock worth $45,517,000 after buying an additional 180,295 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NETGEAR by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider's stock worth $53,010,000 after buying an additional 85,228 shares during the period. Finally, Windward Management LP acquired a new stake in NETGEAR in the fourth quarter valued at approximately $35,468,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Pramod Badjate sold 3,000 shares of the company's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the transaction, the insider owned 154,073 shares in the company, valued at approximately $3,679,263.24. This represents a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sarah Butterfass sold 2,704 shares of NETGEAR stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.90, for a total transaction of $72,737.60. Following the sale, the director owned 38,953 shares in the company, valued at $1,047,835.70. This represents a 6.49% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 12,085 shares of company stock valued at $313,933. 3.10% of the stock is owned by company insiders.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $21.10 on Friday. The business has a 50-day moving average of $23.29 and a two-hundred day moving average of $23.34. The company has a market capitalization of $573.50 million, a price-to-earnings ratio of -22.69 and a beta of 1.20. NETGEAR, Inc. has a 1 year low of $19.00 and a 1 year high of $36.86.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business had revenue of $168.56 million for the quarter, compared to the consensus estimate of $157.80 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts expect that NETGEAR, Inc. will post -0.52 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of NETGEAR in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $36.50.

About NETGEAR

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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