Insider Selling: NETGEAR (NASDAQ:NTGR) Insider Sells 4,000 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $24.60, for a total transaction of $98,400.00. Following the transaction, the insider owned 155,361 shares in the company, valued at approximately $3,821,880.60. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

NETGEAR Stock Up 2.8%

NASDAQ:NTGR traded up $0.68 during trading hours on Friday, reaching $24.99. 434,399 shares of the company’s stock were exchanged, compared to its average volume of 446,946. NETGEAR, Inc. has a 1-year low of $18.75 and a 1-year high of $36.86. The firm has a market capitalization of $709.79 million, a price-to-earnings ratio of -27.46 and a beta of 1.10. The company has a 50-day moving average of $30.79 and a 200 day moving average of $28.85.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank grew its holdings in shares of NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 429 shares during the period. Headlands Technologies LLC boosted its position in NETGEAR by 19.6% during the first quarter. Headlands Technologies LLC now owns 3,010 shares of the communications equipment provider’s stock worth $74,000 after purchasing an additional 494 shares in the last quarter. Jones Financial Companies Lllp boosted its position in NETGEAR by 44.7% during the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 718 shares in the last quarter. CWM LLC raised its stake in shares of NETGEAR by 35.4% during the 1st quarter. CWM LLC now owns 2,916 shares of the communications equipment provider’s stock worth $71,000 after buying an additional 763 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of NETGEAR by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 100,562 shares of the communications equipment provider’s stock valued at $2,460,000 after purchasing an additional 881 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NTGR. Seaport Res Ptn raised NETGEAR to a “strong-buy” rating in a research report on Wednesday, October 1st. Stifel Nicolaus lifted their price objective on shares of NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Wall Street Zen cut shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Raymond James Financial raised their target price on shares of NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of NETGEAR in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.33.

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.