Insider Selling: NETGEAR, Inc. (NTGR) SVP Sells 1,500 Shares of Stock
NETGEAR, Inc. (NASDAQ:NTGR) SVP Tamesa Rogers sold 1,500 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $46.80, for a total transaction of $70,200.00. Following the sale, the senior vice president now directly owns 23,703 shares in the company, valued at approximately $1,109,300.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Tamesa Rogers also recently made the following trade(s):
- On Tuesday, August 8th, Tamesa Rogers sold 1,500 shares of NETGEAR stock. The shares were sold at an average price of $47.35, for a total transaction of $71,025.00.
- On Monday, July 10th, Tamesa Rogers sold 1,500 shares of NETGEAR stock. The shares were sold at an average price of $44.15, for a total transaction of $66,225.00.
Shares of NETGEAR, Inc. (NASDAQ:NTGR) traded down 0.21% during midday trading on Tuesday, hitting $47.50. 277,994 shares of the stock traded hands. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $60.82. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 21.80 and a beta of 1.54. The company’s 50 day moving average price is $46.92 and its 200-day moving average price is $47.21.
NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. The firm had revenue of $330.72 million for the quarter, compared to analysts’ expectations of $324.64 million. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. On average, equities research analysts expect that NETGEAR, Inc. will post $2.74 EPS for the current year.
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A number of equities research analysts recently issued reports on NTGR shares. Global Equities Research reaffirmed a “buy” rating and set a $85.00 price target on shares of NETGEAR in a research note on Tuesday, June 13th. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. NETGEAR currently has a consensus rating of “Hold” and an average target price of $61.97.
Several hedge funds have recently made changes to their positions in NTGR. BlackRock Inc. boosted its position in shares of NETGEAR by 38,710.4% during the 1st quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock valued at $207,344,000 after acquiring an additional 4,173,752 shares during the last quarter. Royce & Associates LP raised its holdings in NETGEAR by 43,220.6% in the 2nd quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock valued at $33,608,000 after buying an additional 777,971 shares during the period. Bank of New York Mellon Corp raised its holdings in NETGEAR by 54.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,291,319 shares of the communications equipment provider’s stock valued at $63,985,000 after buying an additional 456,929 shares during the period. Alliancebernstein L.P. raised its holdings in NETGEAR by 28.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after buying an additional 311,735 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in NETGEAR in the 2nd quarter valued at about $12,722,000. 98.85% of the stock is currently owned by hedge funds and other institutional investors.
NETGEAR Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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