Texas Permanent School Fund Reduces Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Texas Permanent School Fund cut its stake in NETGEAR, Inc. (NASDAQ:NTGR – Get Rating) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,428 shares of the communications equipment provider’s stock after selling 1,241 shares during the period. Texas Permanent School Fund owned approximately 0.07% of NETGEAR worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in NETGEAR by 3.0% in the first quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider’s stock worth $137,917,000 after acquiring an additional 165,385 shares during the period. Vanguard Group Inc. grew its position in NETGEAR by 3.9% in the third quarter. Vanguard Group Inc. now owns 3,300,485 shares of the communications equipment provider’s stock worth $66,142,000 after acquiring an additional 122,759 shares during the period. Dimensional Fund Advisors LP grew its position in NETGEAR by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,848,617 shares of the communications equipment provider’s stock worth $37,047,000 after acquiring an additional 8,187 shares during the period. State Street Corp grew its position in NETGEAR by 5.4% in the first quarter. State Street Corp now owns 1,218,467 shares of the communications equipment provider’s stock worth $30,072,000 after acquiring an additional 62,383 shares during the period. Finally, Macquarie Group Ltd. grew its position in NETGEAR by 2.4% in the second quarter. Macquarie Group Ltd. now owns 892,002 shares of the communications equipment provider’s stock worth $16,520,000 after acquiring an additional 20,725 shares during the period. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on NETGEAR in a research report on Thursday. They issued a “hold” rating for the company.

NETGEAR Stock Up 2.1 %

NASDAQ:NTGR opened at $14.12 on Friday. The stock’s fifty day moving average is $16.56 and its two-hundred day moving average is $18.29. NETGEAR, Inc. has a 52 week low of $13.30 and a 52 week high of $26.79. The stock has a market capitalization of $410.33 million, a price-to-earnings ratio of -19.08 and a beta of 0.88.

Insiders Place Their Bets

In other NETGEAR news, SVP Michael A. Werdann sold 6,229 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $13.74, for a total transaction of $85,586.46. Following the transaction, the senior vice president now directly owns 58,417 shares in the company, valued at $802,649.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Martin Westhead sold 2,707 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $13.76, for a total value of $37,248.32. Following the sale, the insider now directly owns 55,880 shares in the company, valued at $768,908.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Werdann sold 6,229 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $13.74, for a total value of $85,586.46. Following the completion of the sale, the senior vice president now owns 58,417 shares in the company, valued at $802,649.58. The disclosure for this sale can be found here. 5.10% of the stock is owned by insiders.

NETGEAR Profile

(Get Rating)

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.