Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) Insider Sells $70,547.63 in Stock

NETGEAR, Inc. (NASDAQ:NTGRGet Rating) insider Martin Westhead sold 2,759 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $25.57, for a total value of $70,547.63. Following the transaction, the insider now owns 46,095 shares of the company’s stock, valued at approximately $1,178,649.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Martin Westhead also recently made the following trade(s):

  • On Tuesday, July 5th, Martin Westhead sold 5,497 shares of NETGEAR stock. The shares were sold at an average price of $18.27, for a total value of $100,430.19.

NETGEAR Stock Performance

NETGEAR stock opened at $25.90 on Friday. The company has a 50 day moving average price of $19.95 and a 200-day moving average price of $22.56. NETGEAR, Inc. has a fifty-two week low of $17.40 and a fifty-two week high of $35.99. The company has a market capitalization of $745.17 million, a PE ratio of -13.15 and a beta of 0.93.

NETGEAR (NASDAQ:NTGRGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The communications equipment provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. The company had revenue of $223.20 million during the quarter, compared to the consensus estimate of $209.78 million. NETGEAR had a negative net margin of 5.86% and a negative return on equity of 8.60%. NETGEAR’s revenue for the quarter was down 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, analysts forecast that NETGEAR, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NTGR has been the subject of several recent analyst reports. StockNews.com lowered NETGEAR from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NETGEAR from $25.00 to $22.00 in a research note on Thursday, April 28th. TheStreet downgraded shares of NETGEAR from a “c” rating to a “d+” rating in a research note on Thursday, April 28th. Finally, BWS Financial raised shares of NETGEAR from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.67.

Hedge Funds Weigh In On NETGEAR

A number of large investors have recently bought and sold shares of the business. Cardinal Capital Management raised its stake in NETGEAR by 13.8% in the second quarter. Cardinal Capital Management now owns 27,457 shares of the communications equipment provider’s stock worth $509,000 after buying an additional 3,320 shares in the last quarter. Victory Capital Management Inc. raised its stake in NETGEAR by 0.4% in the second quarter. Victory Capital Management Inc. now owns 2,890,543 shares of the communications equipment provider’s stock worth $53,533,000 after buying an additional 12,592 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in NETGEAR by 52.1% in the second quarter. Assenagon Asset Management S.A. now owns 57,820 shares of the communications equipment provider’s stock worth $1,071,000 after buying an additional 19,804 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NETGEAR by 2.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,298 shares of the communications equipment provider’s stock worth $1,450,000 after purchasing an additional 2,082 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of NETGEAR during the second quarter worth $44,000. Institutional investors own 93.08% of the company’s stock.

NETGEAR Company Profile

(Get Rating)

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in two segments, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as Wi-Fi routers and home Wi-Fi systems, broadband modems, Wi-Fi gateways, Wi-Fi hotspots, Wi-Fi range extenders, Powerline adapters and bridges, Wi-Fi network adapters, and digital canvasses; and value-added service offerings, including technical support, parental controls, and cybersecurity protection.

See Also

Insider Buying and Selling by Quarter for NETGEAR (NASDAQ:NTGR)

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