Vanguard Group Inc. Sells 897,497 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Vanguard Group Inc. decreased its position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 28.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,204,025 shares of the communications equipment provider's stock after selling 897,497 shares during the period. Vanguard Group Inc. owned 7.44% of NETGEAR worth $27,749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Walleye Capital LLC raised its holdings in NETGEAR by 279.2% during the third quarter. Walleye Capital LLC now owns 151,718 shares of the communications equipment provider's stock worth $1,910,000 after purchasing an additional 111,713 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NETGEAR by 15.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 659,460 shares of the communications equipment provider's stock valued at $8,303,000 after buying an additional 86,937 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of NETGEAR by 66.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 440,030 shares of the communications equipment provider's stock valued at $5,540,000 after buying an additional 175,288 shares in the last quarter. Brandes Investment Partners LP increased its holdings in shares of NETGEAR by 38.7% in the third quarter. Brandes Investment Partners LP now owns 3,465,808 shares of the communications equipment provider's stock valued at $43,635,000 after buying an additional 967,537 shares in the last quarter. Finally, Algert Global LLC increased its holdings in shares of NETGEAR by 129.5% in the third quarter. Algert Global LLC now owns 129,018 shares of the communications equipment provider's stock valued at $1,624,000 after buying an additional 72,800 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

NETGEAR Trading Down 1.5 %

NASDAQ:NTGR traded down $0.23 during trading hours on Friday, hitting $14.68. 186,629 shares of the stock traded hands, compared to its average volume of 161,625. The firm has a 50 day moving average price of $14.83 and a 200 day moving average price of $13.82. NETGEAR, Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $18.68. The firm has a market cap of $435.41 million, a price-to-earnings ratio of -4.14 and a beta of 0.84.

NETGEAR (NASDAQ:NTGR - Get Free Report) last announced its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. The company had revenue of $188.67 million for the quarter, compared to the consensus estimate of $185.14 million. NETGEAR had a negative net margin of 14.14% and a negative return on equity of 2.96%. The company's revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. Research analysts predict that NETGEAR, Inc. will post -0.16 EPS for the current year.

Insiders Place Their Bets

In other NETGEAR news, insider Andrew Wonki Kim sold 5,889 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.50, for a total transaction of $85,390.50. Following the transaction, the insider now directly owns 88,001 shares of the company's stock, valued at $1,276,014.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NETGEAR news, insider Andrew Wonki Kim sold 5,889 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.50, for a total transaction of $85,390.50. Following the completion of the sale, the insider now directly owns 88,001 shares in the company, valued at $1,276,014.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vikram Mehta sold 1,844 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $14.48, for a total transaction of $26,701.12. Following the sale, the senior vice president now owns 25,569 shares of the company's stock, valued at $370,239.12. The disclosure for this sale can be found here. Insiders have sold 13,190 shares of company stock valued at $187,235 over the last three months. 6.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a "buy" rating and issued a $30.00 price target on shares of NETGEAR in a report on Wednesday.

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.