Principal Financial Group Inc. Lowers Stock Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Principal Financial Group Inc. decreased its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 1.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178,410 shares of the communications equipment provider’s stock after selling 3,060 shares during the period. Principal Financial Group Inc. owned approximately 0.61% of NETGEAR worth $3,302,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in shares of NETGEAR by 54.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 837 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NETGEAR by 27.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,547 shares of the communications equipment provider’s stock worth $64,000 after buying an additional 764 shares during the period. Lazard Asset Management LLC purchased a new position in shares of NETGEAR in the first quarter worth about $66,000. Captrust Financial Advisors increased its holdings in shares of NETGEAR by 20.1% in the first quarter. Captrust Financial Advisors now owns 3,082 shares of the communications equipment provider’s stock worth $76,000 after buying an additional 515 shares during the period. Finally, Amundi increased its holdings in shares of NETGEAR by 102.0% in the fourth quarter. Amundi now owns 5,755 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 2,906 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.

NETGEAR Price Performance

NASDAQ NTGR opened at $13.07 on Monday. The stock has a market capitalization of $384.26 million, a PE ratio of -17.90 and a beta of 0.86. NETGEAR, Inc. has a 1 year low of $12.44 and a 1 year high of $23.59. The business’s 50-day moving average is $13.75 and its 200 day moving average is $15.32.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 26th. The communications equipment provider reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.19. The company had revenue of $173.41 million for the quarter, compared to analysts’ expectations of $156.50 million. NETGEAR had a negative return on equity of 3.58% and a negative net margin of 2.53%. As a group, equities research analysts anticipate that NETGEAR, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling at NETGEAR

In other NETGEAR news, SVP Vikram Mehta sold 2,760 shares of NETGEAR stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $14.20, for a total transaction of $39,192.00. Following the sale, the senior vice president now directly owns 54,845 shares of the company’s stock, valued at approximately $778,799. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NETGEAR news, SVP Vikram Mehta sold 2,760 shares of NETGEAR stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $14.20, for a total transaction of $39,192.00. Following the sale, the senior vice president now directly owns 54,845 shares of the company’s stock, valued at approximately $778,799. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Heidi Cormack sold 2,344 shares of NETGEAR stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $14.77, for a total value of $34,620.88. Following the sale, the senior vice president now directly owns 63,765 shares in the company, valued at $941,809.05. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on NETGEAR in a report on Thursday, August 17th. They issued a “sell” rating on the stock.

NETGEAR Company Profile

NETGEAR, Inc engages in the design, development, and marketing of networking and Internet connected products for consumers, businesses, and service providers in the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and Small and Medium Business.