Allspring Global Investments Holdings LLC Sells 16,741 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Allspring Global Investments Holdings LLC lowered its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 32,942 shares of the communications equipment provider's stock after selling 16,741 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of NETGEAR worth $806,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NTGR. Ritholtz Wealth Management bought a new position in shares of NETGEAR during the first quarter valued at approximately $495,000. Hsbc Holdings PLC raised its holdings in NETGEAR by 29.3% in the 4th quarter. Hsbc Holdings PLC now owns 73,209 shares of the communications equipment provider's stock worth $2,012,000 after purchasing an additional 16,588 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of NETGEAR by 3,539.0% in the 1st quarter. GAMMA Investing LLC now owns 11,936 shares of the communications equipment provider's stock worth $292,000 after purchasing an additional 11,608 shares during the period. Tenzing Global Management LLC boosted its stake in shares of NETGEAR by 64.3% during the 4th quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider's stock valued at $8,013,000 after purchasing an additional 112,500 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of NETGEAR by 30.7% during the 4th quarter. Ameriprise Financial Inc. now owns 116,525 shares of the communications equipment provider's stock valued at $3,248,000 after purchasing an additional 27,379 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at NETGEAR

In other NETGEAR news, CFO Murray Bryan sold 2,671 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $28.09, for a total value of $75,028.39. Following the transaction, the chief financial officer owned 178,945 shares of the company's stock, valued at approximately $5,026,565.05. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura Durr sold 4,387 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.39, for a total value of $124,546.93. Following the sale, the director owned 45,059 shares of the company's stock, valued at approximately $1,279,225.01. This represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,671 shares of company stock worth $565,429. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a research note on Monday, May 5th.

NETGEAR Stock Down 0.8%

Shares of NASDAQ NTGR traded down $0.24 during trading on Friday, reaching $29.14. 250,196 shares of the company traded hands, compared to its average volume of 372,895. The firm has a 50 day simple moving average of $29.13 and a 200-day simple moving average of $26.76. NETGEAR, Inc. has a 52-week low of $13.96 and a 52-week high of $31.55. The stock has a market capitalization of $838.65 million, a PE ratio of 35.54 and a beta of 1.13.

NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.37. The company had revenue of $162.06 million for the quarter, compared to analysts' expectations of $152.24 million. NETGEAR had a net margin of 3.72% and a negative return on equity of 7.63%. The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.28) earnings per share. As a group, research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

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.