Vanguard Group Inc. Lowers Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Vanguard Group Inc. cut its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,492,148 shares of the communications equipment provider’s stock after selling 35,476 shares during the period. Vanguard Group Inc. owned about 8.66% of NETGEAR worth $69,456,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares in the last quarter. R Squared Ltd bought a new stake in NETGEAR in the 4th quarter worth approximately $72,000. New York State Teachers Retirement System purchased a new stake in NETGEAR in the fourth quarter worth approximately $72,000. Picton Mahoney Asset Management bought a new position in NETGEAR during the fourth quarter valued at approximately $92,000. Finally, AlphaQuest LLC purchased a new position in shares of NETGEAR during the fourth quarter worth approximately $185,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at NETGEAR

In related news, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now owns 507,763 shares in the company, valued at $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at approximately $4,617,325.44. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

NETGEAR Stock Performance

NASDAQ:NTGR opened at $22.12 on Friday. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55. The firm has a market cap of $638.58 million, a PE ratio of 55.30 and a beta of 1.03. The business has a 50 day moving average price of $25.12 and a 200-day moving average price of $24.62.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. Research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NTGR shares. StockNews.com cut shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Raymond James raised their price objective on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

NETGEAR 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.