NETGEAR, Inc. (NASDAQ:NTGR) Insider Sells $83,212.42 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Andrew Wonki Kim sold 5,723 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $14.54, for a total value of $83,212.42. Following the completion of the sale, the insider now owns 76,656 shares of the company’s stock, valued at $1,114,578.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Andrew Wonki Kim also recently made the following trade(s):

• On Thursday, February 15th, Andrew Wonki Kim sold 5,889 shares of NETGEAR stock. The shares were sold at an average price of $14.50, for a total value of $85,390.50.

NETGEAR Trading Down 1.6 %

NASDAQ NTGR traded down $0.23 during trading hours on Tuesday, hitting $14.05. The company’s stock had a trading volume of 105,046 shares, compared to its average volume of 216,418. NETGEAR, Inc. has a 52 week low of $10.40 and a 52 week high of $18.52. The company has a market capitalization of $416.72 million, a PE ratio of -4.02 and a beta of 0.84. The company’s 50-day simple moving average is $14.83 and its two-hundred day simple moving average is $13.86.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.04. NETGEAR had a negative net margin of 14.14% and a negative return on equity of 2.96%. The business had revenue of $188.67 million for the quarter, compared to analysts’ expectations of $185.14 million. During the same quarter last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. Research analysts anticipate that NETGEAR, Inc. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On NETGEAR

Several hedge funds have recently modified their holdings of NTGR. Envestnet Asset Management Inc. lifted its position in shares of NETGEAR by 14.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,169 shares of the communications equipment provider’s stock worth $300,000 after buying an additional 1,561 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of NETGEAR by 56.2% during the 1st quarter. JPMorgan Chase & Co. now owns 133,326 shares of the communications equipment provider’s stock worth $3,291,000 after buying an additional 47,973 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of NETGEAR by 61.0% during the 1st quarter. MetLife Investment Management LLC now owns 16,504 shares of the communications equipment provider’s stock worth $407,000 after buying an additional 6,253 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of NETGEAR by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,229 shares of the communications equipment provider’s stock worth $623,000 after purchasing an additional 3,110 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of NETGEAR by 3.0% during the 1st quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider’s stock worth $137,917,000 after purchasing an additional 165,385 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and issued a $30.00 price target on shares of NETGEAR in a research report on Wednesday, April 10th.

About NETGEAR

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.