Netgear Inc. (NTGR) Trading Down 3.2% After Insider Selling
Netgear Inc. (NASDAQ:NTGR) shares were down 3.2% on Monday after an insider sold shares in the company. The stock traded as low as $58.42 and last traded at $58.53, with a volume of 211,632 shares. The stock had previously closed at $60.49.
Specifically, SVP Tamesa Rogers sold 650 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $52.25, for a total value of $33,962.50. Following the completion of the sale, the senior vice president now directly owns 13,525 shares in the company, valued at approximately $706,681.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Werdann sold 1,348 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $49.54, for a total value of $66,779.92. Following the completion of the sale, the senior vice president now owns 24,750 shares of the company’s stock, valued at $1,226,115. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on NTGR shares. Wunderlich started coverage on Netgear in a report on Wednesday, June 8th. They issued a “buy” rating and a $55.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $47.50 price objective on shares of Netgear in a report on Thursday, June 9th. Zacks Investment Research cut Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Citigroup Inc. cut Netgear to a “neutral” rating and set a $47.50 price objective for the company. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Finally, BWS Financial lifted their price objective on Netgear from $50.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Netgear currently has a consensus rating of “Hold” and a consensus price target of $53.40.
The firm has a market capitalization of $1.91 billion, a P/E ratio of 27.79 and a beta of 1.92. The company has a 50-day moving average price of $57.67 and a 200-day moving average price of $48.18.
Netgear (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The business earned $311.66 million during the quarter, compared to analyst estimates of $298.87 million. During the same period in the prior year, the company earned $0.29 earnings per share. Netgear’s revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Netgear Inc. will post $2.96 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in NTGR. Glenmede Trust Co. NA raised its position in shares of Netgear by 6,330.6% in the first quarter. Glenmede Trust Co. NA now owns 11,575 shares of the company’s stock valued at $466,000 after buying an additional 11,395 shares during the period. Aperio Group LLC raised its position in shares of Netgear by 5.7% in the first quarter. Aperio Group LLC now owns 8,871 shares of the company’s stock valued at $358,000 after buying an additional 476 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Netgear during the first quarter valued at $216,000. TIAA CREF Investment Management LLC raised its position in shares of Netgear by 5.8% in the first quarter. TIAA CREF Investment Management LLC now owns 231,418 shares of the company’s stock valued at $9,342,000 after buying an additional 12,748 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Netgear by 31.1% in the first quarter. Teachers Advisors Inc. now owns 279,231 shares of the company’s stock valued at $11,273,000 after buying an additional 66,305 shares during the period. 99.48% of the stock is owned by institutional investors and hedge funds.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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