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

Allspring Global Investments Holdings LLC cut its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 33.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,942 shares of the communications equipment provider's stock after selling 16,741 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.11% of NETGEAR worth $806,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of NETGEAR in the fourth quarter worth about $394,000. Arizona State Retirement System acquired a new stake in NETGEAR in the 4th quarter worth approximately $220,000. Amundi bought a new stake in NETGEAR during the fourth quarter worth approximately $653,000. AlphaQuest LLC acquired a new position in NETGEAR during the fourth quarter valued at approximately $185,000. Finally, Inspire Advisors LLC lifted its stake in shares of NETGEAR by 32.5% in the fourth quarter. Inspire Advisors LLC now owns 25,599 shares of the communications equipment provider's stock worth $713,000 after buying an additional 6,282 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at NETGEAR

In other news, Director Laura Durr sold 4,388 shares of the business'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 sale, the director directly owned 49,446 shares in the company, valued at approximately $1,458,657. The trade was a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Murray Bryan sold 2,671 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total value of $75,028.39. Following the completion of the transaction, the chief financial officer directly owned 178,945 shares of the company's stock, valued at approximately $5,026,565.05. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,671 shares of company stock worth $565,429 over the last ninety days. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

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

NETGEAR Stock Down 2.0%

NASDAQ NTGR traded down $0.60 during trading on Thursday, hitting $29.38. The company's stock had a trading volume of 316,872 shares, compared to its average volume of 371,676. NETGEAR, Inc. has a 52 week low of $13.96 and a 52 week high of $31.55. The firm has a market cap of $845.62 million, a P/E ratio of 35.83 and a beta of 1.13. The firm has a 50 day moving average price of $29.07 and a 200 day moving average price of $26.74.

NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.37. NETGEAR had a net margin of 3.72% and a negative return on equity of 7.63%. The business had revenue of $162.06 million for the quarter, compared to analyst estimates of $152.24 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. NETGEAR's revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that NETGEAR, Inc. will post -1.84 earnings per share 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.