Ritholtz Wealth Management purchased a new stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,225 shares of the communications equipment provider's stock, valued at approximately $495,000. Ritholtz Wealth Management owned approximately 0.07% of NETGEAR as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of NTGR. Allspring Global Investments Holdings LLC purchased a new position in shares of NETGEAR during the 4th quarter valued at about $1,385,000. New York State Teachers Retirement System purchased a new position in shares of NETGEAR during the 4th quarter valued at about $72,000. Rhumbline Advisers raised its holdings in shares of NETGEAR by 32.0% during the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock valued at $1,946,000 after buying an additional 16,920 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of NETGEAR by 49.3% during 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 in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of NETGEAR by 73.8% during the 4th quarter. Ieq Capital LLC now owns 29,443 shares of the communications equipment provider's stock valued at $821,000 after buying an additional 12,506 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised NETGEAR from a "hold" rating to a "buy" rating in a report on Monday, May 5th.
Check Out Our Latest Analysis on NTGR
Insider Buying and Selling
In related news, CFO Murray Bryan sold 2,671 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total transaction of $75,028.39. Following the transaction, the chief financial officer now directly owns 178,945 shares in the company, valued at $5,026,565.05. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura Durr sold 4,387 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.39, for a total value of $124,546.93. Following the transaction, the director now owns 45,059 shares in the company, valued at approximately $1,279,225.01. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,671 shares of company stock worth $565,429 in the last ninety days. 2.30% of the stock is owned by insiders.
NETGEAR Trading Down 1.9%
Shares of NASDAQ NTGR opened at $26.70 on Friday. The stock has a market cap of $768.43 million, a price-to-earnings ratio of 32.56 and a beta of 1.14. NETGEAR, Inc. has a 1-year low of $13.96 and a 1-year high of $31.55. The stock's 50-day moving average is $27.36 and its 200 day moving average is $26.43.
NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $152.24 million. During the same period last year, the firm posted ($0.28) EPS. NETGEAR's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.
About NETGEAR
(
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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