Insider Selling: NETGEAR (NASDAQ:NTGR) Director Sells $26,760.00 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Laura Durr sold 1,000 shares of NETGEAR stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $26.76, for a total value of $26,760.00. Following the transaction, the director owned 42,059 shares of the company’s stock, valued at $1,125,498.84. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Laura Durr also recently made the following trade(s):

• On Monday, June 1st, Laura Durr sold 2,000 shares of NETGEAR stock. The shares were sold at an average price of $25.94, for a total value of $51,880.00.

NETGEAR Stock Performance

NTGR stock opened at $24.09 on Friday. The company has a market capitalization of $646.58 million, a P/E ratio of -27.38 and a beta of 1.17. NETGEAR, Inc. has a 52-week low of $19.00 and a 52-week high of $36.86. The business has a 50-day simple moving average of $25.01 and a two-hundred day simple moving average of $23.62.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The business had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS. As a group, sell-side analysts forecast that NETGEAR, Inc. will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NETGEAR

Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of NETGEAR by 71.5% in the first quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock valued at $5,258,000 after acquiring an additional 100,368 shares in the last quarter. Royal Bank of Canada lifted its stake in NETGEAR by 354.2% in the first quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock valued at $533,000 after purchasing an additional 19,019 shares during the last quarter. Empowered Funds LLC lifted its stake in NETGEAR by 15.5% in the first quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock valued at $3,492,000 after purchasing an additional 21,469 shares during the last quarter. Renaissance Technologies LLC lifted its stake in NETGEAR by 77.8% in the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after purchasing an additional 243,843 shares during the last quarter. Finally, Caxton Associates LLP lifted its stake in NETGEAR by 137.7% in the first quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock valued at $1,222,000 after purchasing an additional 32,415 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTGR has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Zacks Research raised NETGEAR from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $36.00.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.