Engineers Gate Manager LP Trims Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Engineers Gate Manager LP lessened its position in shares of NETGEAR, Inc. (NASDAQ:NTGR – Get Rating) by 83.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,025 shares of the communications equipment provider’s stock after selling 113,161 shares during the quarter. Engineers Gate Manager LP owned approximately 0.08% of NETGEAR worth $441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC acquired a new stake in NETGEAR during the third quarter valued at $745,000. Caxton Associates LP grew its position in shares of NETGEAR by 45.1% in the third quarter. Caxton Associates LP now owns 83,867 shares of the communications equipment provider’s stock valued at $1,681,000 after purchasing an additional 26,081 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of NETGEAR in the third quarter valued at about $314,000. Renaissance Technologies LLC grew its position in shares of NETGEAR by 31.7% in the third quarter. Renaissance Technologies LLC now owns 97,700 shares of the communications equipment provider’s stock valued at $1,958,000 after purchasing an additional 23,500 shares during the period. Finally, Credit Suisse AG grew its position in shares of NETGEAR by 4.1% in the third quarter. Credit Suisse AG now owns 39,198 shares of the communications equipment provider’s stock valued at $785,000 after purchasing an additional 1,531 shares during the period. Institutional investors and hedge funds own 85.22% of the company’s stock.

NETGEAR Trading Down 1.7 %

Shares of NASDAQ NTGR opened at $17.69 on Monday. The company’s 50-day simple moving average is $19.14 and its 200-day simple moving average is $20.02. NETGEAR, Inc. has a 52-week low of $17.34 and a 52-week high of $26.79.

NETGEAR (NASDAQ:NTGR – Get Rating) last announced its earnings results on Wednesday, February 1st. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. NETGEAR had a negative net margin of 7.40% and a negative return on equity of 11.05%. The business had revenue of $249.10 million for the quarter, compared to analyst estimates of $243.52 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts expect that NETGEAR, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Vikram Mehta sold 1,850 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $19.32, for a total transaction of $35,742.00. Following the transaction, the senior vice president now directly owns 42,970 shares in the company, valued at $830,180.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Vikram Mehta sold 1,850 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $19.32, for a total transaction of $35,742.00. Following the transaction, the senior vice president now directly owns 42,970 shares in the company, valued at $830,180.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martin Westhead sold 2,044 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $18.14, for a total transaction of $37,078.16. Following the transaction, the insider now owns 42,970 shares in the company, valued at $779,475.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,861 shares of company stock worth $91,232. 5.10% of the stock is owned by insiders.

About NETGEAR

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NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following segments: Connected Home, and Small & Medium Business. The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use WiFi Internet networking solutions such as WiFi mesh systems, routers, 4G/5G mobile products, smart devices such as Meural digital canvasses, and services offering consumers a range of parental controls and cyber security for their home networks.