Tudor Investment Corp ET AL Sells 85,876 Shares of NETGEAR, Inc. $NTGR

Key Points

• Tudor Investment Corp cut its NETGEAR stake by 69.3%, selling 85,876 shares and leaving 38,103 shares (about 0.13% ownership) valued at roughly $1.234 million at quarter end.
• NETGEAR beat quarterly EPS expectations, reporting $0.26 versus a $0.05 estimate and slightly higher revenue, but still posted a negative net margin (-2.56%) and analysts forecast a full-year EPS of -1.84.
• Analyst sentiment is mixed but the consensus is a Hold with an average price target of $36 (two Buys, one Hold, one Sell).

Tudor Investment Corp ET AL lessened its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 69.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,103 shares of the communications equipment provider's stock after selling 85,876 shares during the period. Tudor Investment Corp ET AL owned approximately 0.13% of NETGEAR worth $1,234,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NTGR. Comerica Bank increased its position in NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider's stock worth $35,000 after purchasing an additional 429 shares during the last quarter. Rexford Capital Inc. bought a new stake in NETGEAR in the second quarter worth $58,000. Jones Financial Companies Lllp increased its position in NETGEAR by 44.7% in the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider's stock worth $75,000 after purchasing an additional 718 shares during the last quarter. FNY Investment Advisers LLC increased its position in NETGEAR by 50.0% in the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in NETGEAR by 35.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider's stock worth $101,000 after purchasing an additional 904 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

NTGR has been the topic of several research reports. Zacks Research upgraded shares of NETGEAR from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 10th. Weiss Ratings restated a "sell (d)" rating on shares of NETGEAR in a research report on Friday, March 27th. Wall Street Zen raised shares of NETGEAR from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NETGEAR presently has a consensus rating of "Hold" and an average price target of $36.00.

Insider Activity

In other news, insider Pramod Badjate sold 3,000 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.97, for a total transaction of $62,910.00. Following the completion of the sale, the insider directly owned 144,586 shares of the company's stock, valued at approximately $3,031,968.42. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company's stock.

NETGEAR Stock Up 1.2%

NASDAQ NTGR opened at $23.60 on Tuesday. The company has a fifty day moving average of $21.59 and a two-hundred day moving average of $25.23. The firm has a market capitalization of $663.40 million, a price-to-earnings ratio of -38.06 and a beta of 1.09. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The communications equipment provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.05 by $0.21. The company had revenue of $182.47 million during the quarter, compared to analyst estimates of $177.26 million. NETGEAR had a negative net margin of 2.56% and a negative return on equity of 2.40%. NETGEAR's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) earnings per share. Equities research analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current year.

NETGEAR Company Profile

NETGEAR, Inc NASDAQ: NTGR is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.

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