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

Bank of America Corp DE cut its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 32.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,645 shares of the communications equipment provider's stock after selling 16,517 shares during the period. Bank of America Corp DE owned 0.12% of NETGEAR worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in NETGEAR during the fourth quarter worth $72,000. Summit Investment Advisors Inc. lifted its stake in shares of NETGEAR by 19.6% in the 4th 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 last quarter. Picton Mahoney Asset Management acquired a new position in shares of NETGEAR in the 4th quarter valued at $92,000. AlphaQuest LLC purchased a new stake in shares of NETGEAR in the 4th quarter valued at $185,000. Finally, New York State Common Retirement Fund raised its holdings in shares of NETGEAR by 49.3% in the 4th quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider's stock valued at $211,000 after buying an additional 2,500 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 completion of the sale, the director now directly owns 41,657 shares of the company's stock, valued at $1,203,470.73. This trade represents a 12.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Murray Bryan sold 2,671 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,367 shares of company stock valued at $336,021. 2.30% of the stock is currently owned by company insiders.

NETGEAR Price Performance

NASDAQ:NTGR opened at $30.22 on Friday. NETGEAR, Inc. has a 12 month low of $13.79 and a 12 month high of $31.55. The firm has a market capitalization of $869.79 million, a PE ratio of 75.55 and a beta of 1.14. The business's fifty day moving average price is $26.17 and its 200 day moving average price is $26.19.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The communications equipment provider reported $0.02 EPS for the quarter, beating 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 business had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. During the same quarter in the prior year, the business posted ($0.28) EPS. The business's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current year.

Wall Street Analysts Forecast Growth

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

NETGEAR 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.

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