Tenzing Global Management LLC Purchases 112,500 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Tenzing Global Management LLC grew its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 64.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,500 shares of the communications equipment provider's stock after purchasing an additional 112,500 shares during the quarter. NETGEAR comprises about 6.0% of Tenzing Global Management LLC's investment portfolio, making the stock its 5th biggest position. Tenzing Global Management LLC owned approximately 1.00% of NETGEAR worth $8,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider's stock valued at $883,000 after acquiring an additional 2,166 shares during the period. SG Americas Securities LLC bought a new stake in NETGEAR in the fourth quarter valued at about $375,000. Inspire Investing LLC bought a new position in shares of NETGEAR during the 4th quarter worth approximately $852,000. R Squared Ltd bought a new position in shares of NETGEAR during the fourth quarter valued at $72,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in NETGEAR by 285.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock valued at $2,221,000 after buying an additional 59,005 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

NETGEAR Price Performance

NTGR traded down $0.69 during trading on Friday, reaching $29.17. The company had a trading volume of 91,797 shares, compared to its average volume of 345,897. The company has a market cap of $839.57 million, a P/E ratio of 72.99 and a beta of 1.09. NETGEAR, Inc. has a 12 month low of $12.66 and a 12 month high of $31.55. The business's fifty day moving average price is $25.02 and its 200 day moving average price is $25.74.

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

Wall Street Analysts Forecast Growth

NTGR has been the subject of several research reports. Wall Street Zen upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Raymond James increased their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th.

Insiders Place Their Bets

In other news, CFO Murray Bryan sold 2,671 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $28.09, for a total value of $75,028.39. Following the sale, the chief financial officer now directly owns 178,945 shares of the company's stock, valued at approximately $5,026,565.05. This represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.00% of the company's stock.

NETGEAR Company 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.