NetGear, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 3,500 shares of the stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $57.65, for a total transaction of $201,775.00. Following the transaction, the senior vice president now directly owns 44,305 shares of the company’s stock, valued at approximately $2,554,183.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ NTGR opened at $53.74 on Wednesday. NetGear, Inc. has a one year low of $44.20 and a one year high of $78.30. The company has a market capitalization of $1.72 billion, a PE ratio of 25.85 and a beta of 2.04.
Several hedge funds and other institutional investors have recently bought and sold shares of NTGR. BTIM Corp. purchased a new position in shares of NetGear in the second quarter valued at approximately $33,528,000. Acadian Asset Management LLC purchased a new position in shares of NetGear in the second quarter valued at approximately $17,811,000. BlackRock Inc. boosted its stake in shares of NetGear by 5.5% in the second quarter. BlackRock Inc. now owns 4,566,762 shares of the communications equipment provider’s stock valued at $285,423,000 after purchasing an additional 236,386 shares during the period. Millennium Management LLC boosted its stake in shares of NetGear by 623.9% in the first quarter. Millennium Management LLC now owns 268,105 shares of the communications equipment provider’s stock valued at $15,336,000 after purchasing an additional 231,070 shares during the period. Finally, Congress Asset Management Co. MA purchased a new position in shares of NetGear in the second quarter valued at approximately $8,760,000. 99.87% of the stock is owned by institutional investors and hedge funds.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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