NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. decreased its stake in NETGEAR, Inc. by 19.8%, selling 17,494 shares to hold 70,813 shares valued at approximately $1.73 million.
• In recent insider trading, Director Sarah Butterfass and VP Graeme Mclindin sold shares, with Butterfass's sale representing a 12.31% decrease in her holdings.
• NETGEAR's stock traded up 3.8% to $24.85, following a quarterly earnings report that beat analysts' expectations with a profit of $0.06 per share.

Federated Hermes Inc. reduced its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 19.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,813 shares of the communications equipment provider's stock after selling 17,494 shares during the quarter. Federated Hermes Inc. owned about 0.25% of NETGEAR worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTGR. Portolan Capital Management LLC purchased a new position in shares of NETGEAR in the 4th quarter worth about $5,357,000. Picton Mahoney Asset Management grew its holdings in shares of NETGEAR by 4,835.7% during the 1st quarter. Picton Mahoney Asset Management now owns 162,878 shares of the communications equipment provider's stock worth $3,983,000 after purchasing an additional 159,578 shares during the period. Barclays PLC increased its position in NETGEAR by 343.1% during the 4th quarter. Barclays PLC now owns 192,226 shares of the communications equipment provider's stock worth $5,357,000 after purchasing an additional 148,841 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in NETGEAR by 47.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider's stock valued at $11,319,000 after buying an additional 131,243 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in NETGEAR by 143.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 193,778 shares of the communications equipment provider's stock valued at $4,740,000 after buying an additional 114,085 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of NETGEAR from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd.

NETGEAR Trading Up 1.7%

NASDAQ:NTGR traded up $0.41 during mid-day trading on Friday, hitting $25.14. The company had a trading volume of 476,255 shares, compared to its average volume of 545,536. The business has a fifty day simple moving average of $27.77 and a 200-day simple moving average of $26.58. The firm has a market capitalization of $729.31 million, a price-to-earnings ratio of 11.64 and a beta of 1.07. NETGEAR, Inc. has a 1 year low of $14.86 and a 1 year high of $31.55.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.22. The business had revenue of $170.53 million during the quarter, compared to analyst estimates of $162.06 million. NETGEAR had a negative return on equity of 3.24% and a net margin of 9.13%. The company's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.74) earnings per share. As a group, research analysts anticipate that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Insider Activity

In related news, Director Sarah Butterfass sold 5,848 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.89, for a total transaction of $168,948.72. Following the completion of the sale, the director directly owned 41,657 shares of the company's stock, valued at approximately $1,203,470.73. This trade represents a 12.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Graeme Mclindin sold 2,377 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $67,459.26. Following the completion of the transaction, the vice president owned 61,208 shares in the company, valued at $1,737,083.04. This represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock worth $490,401 over the last 90 days. Company insiders own 2.30% of the company's stock.

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.