Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) CEO Sells $291,148.56 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares of the company’s stock, valued at $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NETGEAR Stock Performance

Shares of NETGEAR stock opened at $26.27 on Thursday. The company has a 50-day simple moving average of $27.59 and a two-hundred day simple moving average of $23.20. The stock has a market capitalization of $758.39 million, a PE ratio of 65.68 and a beta of 0.83. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. As a group, equities research analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on NTGR. Raymond James lifted 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. StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in 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 buying an additional 741 shares in the last quarter. R Squared Ltd purchased a new stake in shares of NETGEAR during the 4th quarter valued at about $72,000. New York State Teachers Retirement System bought a new stake in shares of NETGEAR in the fourth quarter worth approximately $72,000. Summit Investment Advisors Inc. raised its holdings in shares of NETGEAR by 19.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 479 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in NETGEAR during the third quarter valued at approximately $91,000. 82.97% of the stock is owned by institutional investors.

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.