JPMorgan Chase & Co. decreased its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 392,927 shares of the communications equipment provider's stock after selling 35,799 shares during the quarter. JPMorgan Chase & Co. owned about 1.37% of NETGEAR worth $10,951,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in shares of NETGEAR during the 4th quarter valued at approximately $72,000. R Squared Ltd bought a new stake in NETGEAR in the 4th quarter valued at about $72,000. Picton Mahoney Asset Management bought a new stake in shares of NETGEAR during the fourth quarter valued at about $92,000. AlphaQuest LLC purchased a new stake in NETGEAR in the fourth quarter valued at approximately $185,000. Finally, New York State Common Retirement Fund boosted its stake 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 purchasing an additional 2,500 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
NETGEAR Stock Down 0.4 %
Shares of NASDAQ NTGR traded down $0.08 during midday trading on Friday, reaching $22.11. 198,999 shares of the company's stock traded hands, compared to its average volume of 328,160. The company has a market cap of $638.29 million, a price-to-earnings ratio of 55.28 and a beta of 1.03. The stock's 50 day simple moving average is $24.29 and its 200-day simple moving average is $24.72. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55.
NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. Equities analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.
Insider Buying and Selling at NETGEAR
In other news, CEO Charles J. Prober sold 10,929 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the sale, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now owns 193,032 shares of the company's stock, valued at approximately $4,617,325.44. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
NTGR has been the topic of several research analyst reports. StockNews.com cut shares of NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Raymond James raised their price target on NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 6th.
Check Out Our Latest Research Report on NTGR
NETGEAR Company Profile
(
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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