Michael A. Werdann Sells 9,244 Shares of NETGEAR, Inc. (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) CRO Michael A. Werdann sold 9,244 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $12.15, for a total transaction of $112,314.60. Following the completion of the sale, the executive now directly owns 79,668 shares in the company, valued at $967,966.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NETGEAR Price Performance

Shares of NASDAQ:NTGR opened at $11.58 on Thursday. The company’s 50-day moving average price is $14.60 and its two-hundred day moving average price is $14.09. NETGEAR, Inc. has a one year low of $10.40 and a one year high of $15.93. The stock has a market capitalization of $336.63 million, a PE ratio of -3.01 and a beta of 0.86.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. NETGEAR had a negative net margin of 15.69% and a negative return on equity of 3.73%. The firm had revenue of $188.67 million for the quarter, compared to analysts’ expectations of $185.14 million. During the same period in the previous year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was down 24.3% on a year-over-year basis. On average, analysts anticipate that NETGEAR, Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of NETGEAR in a research report on Thursday, May 2nd.

Institutional Investors Weigh In On NETGEAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NETGEAR by 121.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,842 shares of the communications equipment provider’s stock worth $99,000 after purchasing an additional 4,295 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of NETGEAR by 52.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,664 shares of the communications equipment provider’s stock worth $46,000 after purchasing an additional 1,257 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NETGEAR by 40.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 281,678 shares of the communications equipment provider’s stock worth $3,546,000 after purchasing an additional 81,200 shares during the last quarter. Jump Financial LLC increased its stake in shares of NETGEAR by 124.2% during the 3rd quarter. Jump Financial LLC now owns 75,557 shares of the communications equipment provider’s stock worth $951,000 after purchasing an additional 41,857 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of NETGEAR by 84.5% during the 3rd quarter. Barclays PLC now owns 26,351 shares of the communications equipment provider’s stock worth $330,000 after purchasing an additional 12,068 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

NETGEAR Company Profile

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.