NETGEAR (NASDAQ:NTGR) Insider Pramod Badjate Sells 3,000 Shares

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $23.88, for a total transaction of $71,640.00. Following the completion of the transaction, the insider owned 154,073 shares of the company’s stock, valued at $3,679,263.24. The trade was a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NETGEAR Price Performance

NASDAQ NTGR opened at $24.56 on Wednesday. The company’s 50 day simple moving average is $23.81 and its two-hundred day simple moving average is $23.20. NETGEAR, Inc. has a 1 year low of $19.00 and a 1 year high of $36.86. The stock has a market capitalization of $659.19 million, a PE ratio of -27.91 and a beta of 1.20.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. purchased a new stake in shares of NETGEAR in the fourth quarter worth $25,000. Comerica Bank raised its holdings in NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 429 shares during the period. IFP Advisors Inc lifted its position in shares of NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 1,386 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of NETGEAR by 6,085.7% in the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after acquiring an additional 2,982 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of NETGEAR by 35.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after acquiring an additional 904 shares during the period. 82.97% of the stock is currently owned by institutional investors.

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.