NetGear, Inc. (NTGR) SVP Michael F. Falcon Sells 3,500 Shares

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.

Several brokerages have weighed in on NTGR. Guggenheim reaffirmed a “buy” rating on shares of NetGear in a research note on Tuesday, August 28th. BidaskClub raised shares of NetGear from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. BWS Financial increased their target price on shares of NetGear from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, July 9th. Raymond James set a $80.00 target price on shares of NetGear and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Finally, ValuEngine lowered shares of NetGear from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $70.40.

About NetGear

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.

Featured Article: Outstanding Shares

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

Receive News & Ratings for NetGear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetGear and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply