GSA Capital Partners LLP decreased its stake in Netgear Inc. (NASDAQ:NTGR) by 66.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,701 shares of the company’s stock after selling 13,326 shares during the period. GSA Capital Partners LLP’s holdings in Netgear were worth $319,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in NTGR. Nisa Investment Advisors LLC boosted its stake in Netgear by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 30,350 shares of the company’s stock valued at $1,443,000 after buying an additional 150 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Netgear by 5.7% in the second quarter. Suntrust Banks Inc. now owns 5,368 shares of the company’s stock worth $255,000 after buying an additional 289 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Netgear by 3.9% in the second quarter. Capstone Asset Management Co. now owns 10,066 shares of the company’s stock worth $479,000 after buying an additional 380 shares during the period. 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 period. Finally, Bayesian Capital Management LP boosted its stake in shares of Netgear by 6.6% in the first quarter. Bayesian Capital Management LP now owns 8,123 shares of the company’s stock worth $328,000 after buying an additional 500 shares during the period. 99.48% of the stock is owned by institutional investors and hedge funds.
Netgear Inc. (NASDAQ:NTGR) traded down 0.563% during mid-day trading on Monday, reaching $59.175. The company’s stock had a trading volume of 196,872 shares. The company has a 50-day moving average price of $56.77 and a 200-day moving average price of $47.22. The firm has a market cap of $1.94 billion, a PE ratio of 28.152 and a beta of 1.84. Netgear Inc. has a 12-month low of $28.52 and a 12-month high of $60.82.
Netgear (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The firm had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Netgear Inc. will post $2.95 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. BWS Financial raised their target price on Netgear from $50.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Rosenblatt Securities restated a “buy” rating and issued a $47.50 target price on shares of Netgear in a report on Thursday, June 9th. Wunderlich assumed coverage on Netgear in a report on Wednesday, June 8th. They issued a “buy” rating and a $55.00 target price on the stock. Zacks Investment Research upgraded Netgear from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Tuesday, August 2nd. Finally, Vetr upgraded Netgear from a “sell” rating to a “hold” rating and set a $50.82 target price on the stock in a report on Monday, August 1st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $52.34.
In related news, SVP Michael F. Falcon sold 521 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $57.93, for a total value of $30,181.53. Following the sale, the senior vice president now owns 35,870 shares in the company, valued at approximately $2,077,949.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Patrick Cs Lo sold 14,200 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $51.34, for a total value of $729,028.00. Following the completion of the sale, the chairman now owns 155,797 shares in the company, valued at approximately $7,998,617.98. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
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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