Key Points
- NETGEAR insider Pramod Badjate sold 3,000 shares at an average price of $23.88, generating $71,640. The sale reduced his holdings by 1.91% and was made to cover tax obligations tied to vested equity awards.
- NETGEAR shares opened at $24.56, with the stock trading near its 50-day and 200-day moving averages. The company has a market capitalization of approximately $659 million and a 12-month trading range of $19.00 to $36.86.
- Analyst sentiment is mixed, producing a consensus “Hold” rating and a $36.00 target price. Institutional investors own approximately 82.97% of NETGEAR’s outstanding shares.
NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report) insider Pramod Badjate sold 3,000 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $23.88, for a total value of $71,640.00. Following the transaction, the insider owned 154,073 shares of the company's stock, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
NETGEAR Trading Up 1.7%
NASDAQ:NTGR opened at $24.56 on Wednesday. The business's 50-day moving average is $23.81 and its 200 day moving average is $23.20. NETGEAR, Inc. has a 12 month low of $19.00 and a 12 month high of $36.86. The company has a market capitalization of $659.19 million, a P/E ratio of -27.91 and a beta of 1.20.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in NTGR. Johnson Financial Group Inc. purchased a new stake in NETGEAR in the 4th quarter valued at about $25,000. Comerica Bank increased its position in shares of NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider's stock worth $35,000 after acquiring an additional 429 shares during the period. IFP Advisors Inc increased its position in shares of NETGEAR by 161.7% during the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider's stock worth $55,000 after acquiring an additional 1,386 shares during the period. Fifth Third Bancorp raised its stake in shares of NETGEAR by 6,085.7% during the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider's stock valued at $66,000 after acquiring an additional 2,982 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of NETGEAR during the fourth quarter valued at approximately $89,000. 82.97% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.00.
Read Our Latest Analysis on NTGR
About NETGEAR
(
Get Free Report)
NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.
Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.
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