Informed Momentum Co LLC Raises Position in NETGEAR, Inc. (NASDAQ:NTGR)

Key Points

• Informed Momentum Co LLC increased its stake in NETGEAR by 129.9% in the first quarter, owning 95,100 shares worth approximately $2.3 million.
• NETGEAR's stock recently opened at $25.11, with a market cap of $728.44 million and a reported revenue of $170.53 million for its last quarter, outperforming analyst expectations.
• Insider activity included notable sales, with Director Laura Durr selling 4,387 shares and Sarah Butterfass selling 5,848 shares, indicating a decrease in insider ownership.

Informed Momentum Co LLC grew its stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 129.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,100 shares of the communications equipment provider's stock after purchasing an additional 53,739 shares during the quarter. Informed Momentum Co LLC owned approximately 0.33% of NETGEAR worth $2,326,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. CWM LLC increased its position in NETGEAR by 35.4% in the first quarter. CWM LLC now owns 2,916 shares of the communications equipment provider's stock worth $71,000 after buying an additional 763 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in NETGEAR by 19.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after buying an additional 479 shares during the period. Headlands Technologies LLC boosted its stake in NETGEAR by 19.6% during the first quarter. Headlands Technologies LLC now owns 3,010 shares of the communications equipment provider's stock valued at $74,000 after buying an additional 494 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in NETGEAR during the first quarter worth about $154,000. Finally, ProShare Advisors LLC bought a new stake in NETGEAR during the fourth quarter worth about $219,000. Institutional investors own 82.97% of the company's stock.

NETGEAR Stock Down 0.4%

Shares of NASDAQ NTGR traded down $0.09 during midday trading on Friday, reaching $24.37. The company had a trading volume of 373,273 shares, compared to its average volume of 595,295. The stock has a market cap of $706.95 million, a PE ratio of 11.28 and a beta of 1.07. NETGEAR, Inc. has a one year low of $15.05 and a one year high of $31.55. The firm's fifty day moving average price is $27.26 and its 200-day moving average price is $26.49.

NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The communications equipment provider reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.22. The company had revenue of $170.53 million during the quarter, compared to the consensus estimate of $162.06 million. NETGEAR had a negative return on equity of 3.24% and a net margin of 9.13%. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.74) earnings per share. As a group, equities research analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered NETGEAR from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd.

Insider Activity at NETGEAR

In related news, Director Laura Durr sold 4,388 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $29.50, for a total transaction of $129,446.00. Following the completion of the transaction, the director owned 49,446 shares in the company, valued at $1,458,657. This represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Graeme Mclindin sold 2,377 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.38, for a total value of $67,459.26. Following the transaction, the vice president owned 61,208 shares in the company, valued at $1,737,083.04. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,000 shares of company stock worth $490,401 over the last quarter. 2.30% of the stock is owned by corporate insiders.

NETGEAR Profile

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.