Vanguard Group Inc. reduced its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,492,148 shares of the communications equipment provider's stock after selling 35,476 shares during the period. Vanguard Group Inc. owned 8.66% of NETGEAR worth $69,456,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of NETGEAR by 32.0% during the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock valued at $1,946,000 after buying an additional 16,920 shares in the last quarter. Bailard Inc. purchased a new stake in shares of NETGEAR during the fourth quarter worth about $362,000. Robeco Institutional Asset Management B.V. raised its stake in NETGEAR by 285.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock valued at $2,221,000 after purchasing an additional 59,005 shares during the period. Inspire Investing LLC bought a new position in NETGEAR in the 4th quarter worth approximately $852,000. Finally, Amundi purchased a new stake in NETGEAR during the 4th quarter valued at approximately $653,000. 82.97% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on NTGR shares. StockNews.com downgraded shares of NETGEAR from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Raymond James boosted their target price on NETGEAR from $22.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th.
Read Our Latest Stock Analysis on NTGR
NETGEAR Price Performance
Shares of NASDAQ NTGR traded down $0.12 during mid-day trading on Wednesday, hitting $22.38. 6,628 shares of the company's stock traded hands, compared to its average volume of 324,716. The company has a market capitalization of $645.94 million, a P/E ratio of 55.94 and a beta of 1.03. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $31.55. The company's 50-day moving average is $24.78 and its two-hundred day moving average is $24.67.
NETGEAR (NASDAQ:NTGR - Get Free Report) last released its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share 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 anticipate that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the chief financial officer now directly owns 193,032 shares of the company's stock, valued at $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 corporate insiders.
NETGEAR Company Profile
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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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