Insider Selling: NETGEAR, Inc. (NTGR) Insider Sells $152,100.00 in Stock
NETGEAR, Inc. (NASDAQ:NTGR) insider Mark G. Merrill sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $50.70, for a total transaction of $152,100.00. Following the completion of the sale, the insider now directly owns 32,534 shares of the company’s stock, valued at $1,649,473.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of NETGEAR, Inc. (NASDAQ NTGR) opened at 49.30 on Friday. The stock’s 50 day moving average is $48.68 and its 200-day moving average is $46.52. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $59.92. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 22.63 and a beta of 1.53.
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 analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $330.72 million for the quarter, compared to the consensus estimate of $324.64 million. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. NETGEAR’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. On average, analysts anticipate that NETGEAR, Inc. will post $2.73 EPS for the current fiscal year.
NTGR has been the topic of a number of research reports. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Friday, October 13th. BWS Financial upgraded shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. NETGEAR presently has a consensus rating of “Buy” and a consensus target price of $62.13.
Several large investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan raised its position in shares of NETGEAR by 1.0% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,140 shares of the communications equipment provider’s stock valued at $453,000 after acquiring an additional 90 shares during the period. Jennison Associates LLC raised its position in shares of NETGEAR by 0.6% in the 2nd quarter. Jennison Associates LLC now owns 17,331 shares of the communications equipment provider’s stock valued at $747,000 after acquiring an additional 97 shares during the period. Arizona State Retirement System raised its position in shares of NETGEAR by 0.6% in the 1st quarter. Arizona State Retirement System now owns 17,150 shares of the communications equipment provider’s stock valued at $850,000 after acquiring an additional 100 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of NETGEAR by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,772 shares of the communications equipment provider’s stock valued at $1,930,000 after acquiring an additional 135 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of NETGEAR by 0.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 30,030 shares of the communications equipment provider’s stock valued at $1,289,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 98.89% of the company’s stock.
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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