Sanctuary Advisors LLC Acquires Shares of 33,784 NETGEAR, Inc. $NTGR

Sanctuary Advisors LLC bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,784 shares of the communications equipment provider’s stock, valued at approximately $789,000. Sanctuary Advisors LLC owned 0.12% of NETGEAR as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi lifted its stake in shares of NETGEAR by 99.1% during the first quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock valued at $1,179,000 after acquiring an additional 23,993 shares during the period. Goldman Sachs Group Inc. increased its position in NETGEAR by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock worth $6,846,000 after purchasing an additional 37,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NETGEAR by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock worth $1,814,000 after purchasing an additional 9,021 shares during the last quarter. Legal & General Group Plc raised its holdings in NETGEAR by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 34,690 shares of the communications equipment provider’s stock worth $1,008,000 after purchasing an additional 1,788 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in NETGEAR by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 1,140 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, Director Laura Durr sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total transaction of $26,760.00. Following the sale, the director owned 42,059 shares of the company’s stock, valued at approximately $1,125,498.84. This trade represents a 2.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shravan Goli sold 3,381 shares of NETGEAR stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.89, for a total value of $90,915.09. Following the transaction, the director owned 25,857 shares in the company, valued at approximately $695,294.73. This represents a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,085 shares of company stock worth $313,933 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

NETGEAR Stock Performance

Shares of NASDAQ NTGR opened at $21.09 on Friday. NETGEAR, Inc. has a 52-week low of $19.00 and a 52-week high of $36.86. The stock has a market cap of $573.23 million, a P/E ratio of -22.68 and a beta of 1.20. The firm has a 50 day moving average price of $23.00 and a 200 day moving average price of $23.35.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.15. The company had revenue of $168.56 million for the quarter, compared to analyst estimates of $157.80 million. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. Analysts predict that NETGEAR, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.50.

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.