Allspring Global Investments Holdings LLC decreased its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 33.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 0.11% of NETGEAR worth $806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in NTGR. Proficio Capital Partners LLC bought a new stake in NETGEAR in the 4th quarter worth approximately $394,000. Arizona State Retirement System bought a new stake in NETGEAR in the 4th quarter worth approximately $220,000. Amundi bought a new stake in NETGEAR in the 4th quarter worth approximately $653,000. AlphaQuest LLC bought a new stake in NETGEAR in the 4th quarter worth approximately $185,000. Finally, Inspire Advisors LLC increased its stake in NETGEAR by 32.5% in the 4th quarter. Inspire Advisors LLC now owns 25,599 shares of the communications equipment provider's stock worth $713,000 after acquiring an additional 6,282 shares during the last quarter. Institutional investors own 82.97% of the company's stock.
Analysts Set New Price Targets
Separately, Wall Street Zen raised NETGEAR from a "hold" rating to a "buy" rating in a research note on Monday, May 5th.
Read Our Latest Research Report on NETGEAR
NETGEAR Trading Down 0.8%
NASDAQ:NTGR traded down $0.24 during midday trading on Friday, hitting $29.14. 250,196 shares of the company traded hands, compared to its average volume of 373,868. The firm's fifty day moving average is $29.13 and its 200-day moving average is $26.75. NETGEAR, Inc. has a 12-month low of $13.96 and a 12-month high of $31.55. The firm has a market capitalization of $838.71 million, a P/E ratio of 35.54 and a beta of 1.13.
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, beating the consensus estimate of ($0.35) by $0.37. NETGEAR had a negative return on equity of 7.63% and a net margin of 3.72%. The company had revenue of $162.06 million for the quarter, compared to analyst estimates of $152.24 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. NETGEAR's quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Sarah Butterfass sold 5,848 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $28.89, for a total transaction of $168,948.72. Following the sale, the director owned 41,657 shares in the company, valued at approximately $1,203,470.73. This represents a 12.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Graeme Mclindin sold 2,377 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.38, for a total value of $67,459.26. Following the sale, the vice president owned 61,208 shares in the company, valued at $1,737,083.04. The trade was a 3.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,671 shares of company stock worth $565,429. 2.30% of the stock is currently owned by corporate insiders.
NETGEAR Company Profile
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Free Report)
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.
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