Arrowstreet Capital Limited Partnership Buys 63,398 Shares of NETGEAR, Inc. $NTGR

Arrowstreet Capital Limited Partnership grew its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 690,981 shares of the communications equipment provider’s stock after buying an additional 63,398 shares during the quarter. Arrowstreet Capital Limited Partnership owned 2.38% of NETGEAR worth $20,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. US Bancorp DE lifted its position in NETGEAR by 142.6% in the 1st quarter. US Bancorp DE now owns 8,800 shares of the communications equipment provider’s stock valued at $215,000 after acquiring an additional 5,172 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of NETGEAR by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,515,636 shares of the communications equipment provider’s stock valued at $61,532,000 after purchasing an additional 23,488 shares during the period. Headlands Technologies LLC lifted its holdings in shares of NETGEAR by 19.6% in the first quarter. Headlands Technologies LLC now owns 3,010 shares of the communications equipment provider’s stock valued at $74,000 after purchasing an additional 494 shares in the last quarter. Invesco Ltd. boosted its position in shares of NETGEAR by 63.9% during the first quarter. Invesco Ltd. now owns 227,422 shares of the communications equipment provider’s stock worth $5,563,000 after buying an additional 88,643 shares during the period. Finally, Nuveen LLC acquired a new position in shares of NETGEAR during the first quarter worth about $2,741,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Shravan Goli sold 2,047 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $29.95, for a total transaction of $61,307.65. Following the transaction, the director directly owned 29,238 shares in the company, valued at $875,678.10. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Graeme Mclindin sold 1,205 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.26, for a total transaction of $41,283.30. Following the completion of the sale, the vice president directly owned 30,808 shares in the company, valued at approximately $1,055,482.08. The trade was a 3.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,315 shares of company stock worth $661,592. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Zacks Research lowered NETGEAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. UBS Group set a $35.00 price target on shares of NETGEAR in a research note on Thursday, August 21st. Stifel Nicolaus boosted their price objective on shares of NETGEAR from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Raymond James Financial increased their target price on shares of NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Seaport Res Ptn upgraded shares of NETGEAR to a “strong-buy” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.33.

NETGEAR Trading Down 1.0%

Shares of NTGR opened at $26.62 on Monday. The company’s fifty day simple moving average is $30.21 and its 200 day simple moving average is $28.60. NETGEAR, Inc. has a 1-year low of $18.75 and a 1-year high of $36.86. The company has a market cap of $756.01 million, a price-to-earnings ratio of -29.25 and a beta of 1.20.

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.