Shares of Netgear Inc. (NASDAQ:NTGR) were down 3.2% on Monday following insider selling activity. The stock traded as low as $58.42 and last traded at $58.53, with a volume of 211,632 shares traded. The stock had previously closed at $60.49.
Specifically, SVP Michael F. Falcon sold 1,040 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $47.70, for a total transaction of $49,608.00. Following the transaction, the senior vice president now owns 35,869 shares of the company’s stock, valued at approximately $1,710,951.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christine Marie Gorjanc sold 7,329 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $50.07, for a total value of $366,963.03. Following the transaction, the chief financial officer now directly owns 80,404 shares in the company, valued at approximately $4,025,828.28. The disclosure for this sale can be found here. 5.40% of the stock is owned by company insiders.
A number of research firms have recently issued reports on NTGR. BWS Financial downgraded Netgear from a “buy” rating to a “hold” rating and dropped their price target for the stock from $64.00 to $60.00 in a research report on Monday. Rosenblatt Securities reissued a “neutral” rating and set a $61.00 price target (up previously from $55.00) on shares of Netgear in a research report on Wednesday, September 28th. Zacks Investment Research downgraded Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Vetr raised Netgear from a “hold” rating to a “buy” rating and set a $61.09 price target on the stock in a research report on Wednesday, September 21st. Finally, Wunderlich increased their price target on Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.40.
The company’s 50 day moving average price is $57.56 and its 200-day moving average price is $47.93. The firm has a market capitalization of $1.92 billion, a P/E ratio of 27.87 and a beta of 1.92.
Netgear (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The company had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts predict that Netgear Inc. will post $2.96 EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA increased its stake in Netgear by 6,330.6% in the first quarter. Glenmede Trust Co. NA now owns 11,575 shares of the company’s stock worth $466,000 after buying an additional 11,395 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Netgear by 5.7% in the first quarter. Aperio Group LLC now owns 8,871 shares of the company’s stock worth $358,000 after buying an additional 476 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Netgear during the first quarter worth $216,000. TIAA CREF Investment Management LLC boosted its stake in shares of Netgear by 5.8% in the first quarter. TIAA CREF Investment Management LLC now owns 231,418 shares of the company’s stock worth $9,342,000 after buying an additional 12,748 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its stake in shares of Netgear by 31.1% in the first quarter. Teachers Advisors Inc. now owns 279,231 shares of the company’s stock worth $11,273,000 after buying an additional 66,305 shares during the last quarter. Institutional investors own 99.48% of the company’s stock.
Netgear Company Profile
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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