Netgear Inc. (NTGR) SVP Michael A. Werdann Sells 2,625 Shares of Stock
Netgear Inc. (NASDAQ:NTGR) SVP Michael A. Werdann sold 2,625 shares of Netgear stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $51.00, for a total transaction of $133,875.00. Following the completion of the transaction, the senior vice president now directly owns 25,875 shares in the company, valued at approximately $1,319,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Netgear Inc. (NASDAQ:NTGR) traded up 0.633% during midday trading on Friday, reaching $51.675. 66,556 shares of the company’s stock traded hands. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 22.906 and a beta of 1.68. The stock has a 50 day moving average of $52.81 and a 200-day moving average of $50.90. Netgear Inc. has a 52-week low of $33.39 and a 52-week high of $60.82.
Netgear (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The company earned $338.50 million during the quarter, compared to the consensus estimate of $323.82 million. Netgear had a return on equity of 12.20% and a net margin of 5.72%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, equities research analysts expect that Netgear Inc. will post $3.00 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in Netgear during the third quarter valued at approximately $875,000. Panagora Asset Management Inc. increased its stake in shares of Netgear by 1,067.7% in the third quarter. Panagora Asset Management Inc. now owns 222,605 shares of the company’s stock valued at $13,465,000 after buying an additional 203,542 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Netgear by 5.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 258,570 shares of the company’s stock valued at $15,641,000 after buying an additional 12,600 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Netgear during the third quarter valued at about $1,317,000. Finally, HBK Investments L P increased its stake in shares of Netgear by 40.2% in the third quarter. HBK Investments L P now owns 14,300 shares of the company’s stock valued at $865,000 after buying an additional 4,100 shares in the last quarter. 94.80% of the stock is owned by institutional investors.
A number of research firms have recently commented on NTGR. BWS Financial lowered shares of Netgear from a “buy” rating to a “hold” rating and dropped their price target for the company from $64.00 to $60.00 in a research report on Monday, October 3rd. Rosenblatt Securities reissued a “neutral” rating and issued a $61.00 price target (up previously from $55.00) on shares of Netgear in a research report on Wednesday, September 28th. Zacks Investment Research lowered shares of Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Vetr raised shares of Netgear from a “hold” rating to a “buy” rating and set a $61.09 price target on the stock in a research report on Wednesday, September 21st. Finally, Wunderlich lifted their price target on shares of Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Netgear has a consensus rating of “Buy” and an average target price of $57.04.
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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