NETGEAR (NASDAQ:NTGR) Insider Sells $71,640.00 in Stock

Key Points

• NETGEAR insider Pramod Badjate sold 3,000 shares for $71,640, reducing his holdings by 1.91% to 154,073 shares. The sale covered tax-withholding obligations tied to vested equity awards.
• NETGEAR shares rose 1.7% to $24.56, with the stock trading between a 52-week low of $19.00 and high of $36.86. Institutional investors own approximately 82.97% of the company.
• Analyst sentiment remains mixed, resulting in an overall “Hold” consensus and a $36.00 average price target; ratings include two Buys, one Hold, and one Sell.

NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report) insider Pramod Badjate sold 3,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the sale, the insider directly owned 154,073 shares of the company's stock, valued at approximately $3,679,263.24. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NETGEAR Trading Up 1.7%

NASDAQ NTGR traded up $0.41 on Tuesday, reaching $24.56. 325,174 shares of the company were exchanged, compared to its average volume of 369,041. The business's fifty day moving average price is $23.81 and its 200 day moving average price is $23.20. The stock has a market capitalization of $659.19 million, a P/E ratio of -27.91 and a beta of 1.20. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86.

Institutional Investors Weigh In On NETGEAR

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTGR. Windward Management LP acquired a new position in shares of NETGEAR in the 4th quarter worth approximately $35,468,000. Concentric Capital Strategies LP acquired a new stake in NETGEAR in the 4th quarter valued at approximately $7,020,000. Lazard Asset Management LLC increased its holdings in NETGEAR by 87.6% in the 3rd quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider's stock valued at $17,779,000 after purchasing an additional 256,266 shares during the last quarter. Renaissance Technologies LLC raised its position in NETGEAR by 77.8% in the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider's stock valued at $12,175,000 after purchasing an additional 243,843 shares during the period. Finally, OP Asset Management Ltd purchased a new stake in NETGEAR in the first quarter valued at approximately $5,266,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, NETGEAR has an average rating of "Hold" and a consensus price target of $36.00.

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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