Insider Selling: NETGEAR, Inc. (NTGR) SVP Sells $53,454.60 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of NETGEAR stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $51.30, for a total transaction of $53,454.60. Following the transaction, the senior vice president now directly owns 34,612 shares of the company’s stock, valued at $1,775,595.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NETGEAR, Inc. (NASDAQ:NTGR) traded up $0.80 during trading hours on Friday, hitting $52.10. 485,979 shares of the stock traded hands, compared to its average volume of 474,446. NETGEAR, Inc. has a 52-week low of $41.50 and a 52-week high of $59.92. The stock has a market cap of $1,640.00, a price-to-earnings ratio of 20.60 and a beta of 1.52.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. The firm had revenue of $355.48 million for the quarter, compared to analysts’ expectations of $349.36 million. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. sell-side analysts anticipate that NETGEAR, Inc. will post 2.24 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in NTGR. Aperio Group LLC grew its stake in NETGEAR by 8.5% in the 2nd quarter. Aperio Group LLC now owns 11,602 shares of the communications equipment provider’s stock valued at $500,000 after acquiring an additional 907 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in NETGEAR by 2.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,350 shares of the communications equipment provider’s stock valued at $403,000 after acquiring an additional 210 shares during the period. Great West Life Assurance Co. Can grew its stake in NETGEAR by 2.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 47,387 shares of the communications equipment provider’s stock valued at $2,039,000 after acquiring an additional 1,200 shares during the period. Sei Investments Co. grew its stake in NETGEAR by 11.9% in the 2nd quarter. Sei Investments Co. now owns 82,234 shares of the communications equipment provider’s stock valued at $3,544,000 after acquiring an additional 8,747 shares during the period. Finally, Global X Management Co. LLC boosted its stake in NETGEAR by 30.6% during the 2nd quarter. Global X Management Co. LLC now owns 12,455 shares of the communications equipment provider’s stock worth $537,000 after purchasing an additional 2,916 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

NTGR has been the subject of several recent research reports. Zacks Investment Research lowered shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Friday, October 13th. BWS Financial raised shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.75.

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About NETGEAR

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

Insider Buying and Selling by Quarter for NETGEAR (NASDAQ:NTGR)

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