Ritholtz Wealth Management Takes $495,000 Position in NETGEAR, Inc. (NASDAQ:NTGR)

Ritholtz Wealth Management acquired a new stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,225 shares of the communications equipment provider's stock, valued at approximately $495,000. Ritholtz Wealth Management owned about 0.07% of NETGEAR at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Summit Investment Advisors Inc. increased its holdings in shares of 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. SG Americas Securities LLC boosted its stake in shares of NETGEAR by 5.8% in the first quarter. SG Americas Securities LLC now owns 14,241 shares of the communications equipment provider's stock worth $348,000 after buying an additional 780 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of NETGEAR by 2.6% in the fourth quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider's stock worth $917,000 after buying an additional 846 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of 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 worth $211,000 after buying an additional 2,500 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of NETGEAR in the fourth quarter worth about $72,000. 82.97% of the stock is owned by institutional investors.

Insider Transactions at NETGEAR

In other news, CFO Murray Bryan sold 2,671 shares of the business'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 value of $75,028.39. Following the transaction, the chief financial officer now owns 178,945 shares of the company's stock, valued at approximately $5,026,565.05. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laura Durr sold 4,387 shares of the company's stock in a transaction 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 directly owns 45,059 shares in the company, valued at $1,279,225.01. This represents a 8.87% decrease in their position. 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. Company insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

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

NETGEAR Trading Up 5.2%

NTGR stock traded up $1.37 during midday trading on Monday, hitting $27.93. 496,340 shares of the company's stock were exchanged, compared to its average volume of 361,512. The business has a 50-day simple moving average of $27.44 and a two-hundred day simple moving average of $26.45. The stock has a market capitalization of $803.83 million, a PE ratio of 34.06 and a beta of 1.14. NETGEAR, Inc. has a 1-year low of $13.96 and a 1-year high of $31.55.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released 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. NETGEAR had a negative return on equity of 7.63% and a net margin of 3.72%. The business had revenue of $162.06 million during the quarter, compared to analyst estimates of $152.24 million. During the same period last year, the business posted ($0.28) earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current fiscal 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.