Netgear Inc. (NTGR) SVP Patrick J. Collins III Sells 375 Shares of Stock
Netgear Inc. (NASDAQ:NTGR) SVP Patrick J. Collins III sold 375 shares of Netgear stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $55.05, for a total transaction of $20,643.75. Following the transaction, the senior vice president now directly owns 18,800 shares in the company, valued at approximately $1,034,940. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Netgear Inc. (NASDAQ:NTGR) opened at 53.41 on Thursday. The stock has a 50 day moving average of $57.45 and a 200-day moving average of $48.81. The firm has a market capitalization of $1.75 billion, a P/E ratio of 25.41 and a beta of 1.92. Netgear Inc. has a 12-month low of $31.65 and a 12-month high of $60.82.
Netgear (NASDAQ:NTGR) last announced its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $311.66 million for the quarter, compared to analysts’ expectations of $298.87 million. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Netgear Inc. will post $2.96 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Netgear by 949.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,791 shares of the company’s stock valued at $133,000 after buying an additional 2,525 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Netgear by 33.6% in the first quarter. Royal Bank of Canada now owns 3,505 shares of the company’s stock valued at $141,000 after buying an additional 882 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Netgear during the first quarter valued at approximately $174,000. PineBridge Investments L.P. boosted its stake in shares of Netgear by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,130 shares of the company’s stock valued at $197,000 after buying an additional 169 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Netgear during the second quarter valued at approximately $208,000. Institutional investors and hedge funds own 99.48% of the company’s stock.
NTGR has been the topic of several research analyst reports. BWS Financial downgraded shares of Netgear from a “buy” rating to a “hold” rating and dropped their target price for the stock from $64.00 to $60.00 in a report on Monday, October 3rd. Vetr downgraded shares of Netgear from a “buy” rating to a “hold” rating and set a $59.59 target price on the stock. in a report on Monday, September 19th. Zacks Investment Research downgraded shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Citigroup Inc. downgraded shares of Netgear to a “neutral” rating and set a $47.50 target price on the stock. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Finally, Wunderlich raised their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Netgear has an average rating of “Hold” and a consensus target price of $53.36.
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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