NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 32.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,645 shares of the communications equipment provider's stock after selling 16,517 shares during the quarter. Bank of America Corp DE owned 0.12% of NETGEAR worth $966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTGR. New York State Teachers Retirement System purchased a new stake in NETGEAR in the fourth quarter valued at approximately $72,000. Summit Investment Advisors Inc. raised its position in NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after purchasing an additional 479 shares during the period. Picton Mahoney Asset Management purchased a new stake in NETGEAR in the fourth quarter valued at approximately $92,000. AlphaQuest LLC purchased a new stake in NETGEAR in the fourth quarter valued at approximately $185,000. Finally, New York State Common Retirement Fund raised its position in NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider's stock valued at $211,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR traded down $0.64 during trading on Wednesday, hitting $29.83. The company's stock had a trading volume of 629,659 shares, compared to its average volume of 356,364. The business has a 50 day moving average price of $26.65 and a two-hundred day moving average price of $26.30. The company has a market capitalization of $858.57 million, a PE ratio of 74.58 and a beta of 1.14. NETGEAR, Inc. has a fifty-two week low of $13.96 and a fifty-two week high of $31.55.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other NETGEAR news, Director Sarah Butterfass sold 5,848 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.89, for a total value of $168,948.72. Following the completion of the transaction, the director now owns 41,657 shares in the company, valued at $1,203,470.73. The trade was a 12.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Murray Bryan sold 3,848 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now owns 193,032 shares of the company's stock, valued at approximately $4,617,325.44. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,367 shares of company stock worth $336,021 over the last 90 days. Corporate insiders own 2.30% of the company's stock.

About NETGEAR

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.