NETGEAR, Inc. (NASDAQ:NTGR) CEO Charles J. Prober Sells 10,929 Shares

NETGEAR, Inc. (NASDAQ:NTGR) CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares of the company’s stock, valued at $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NETGEAR Stock Performance

Shares of NTGR stock opened at $25.72 on Tuesday. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55. The stock’s fifty day moving average is $27.60 and its two-hundred day moving average is $23.03. The firm has a market capitalization of $742.54 million, a P/E ratio of 64.30 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, hitting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. On average, equities analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on NTGR. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James boosted their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Creative Planning acquired a new stake in shares of NETGEAR in the third quarter valued at approximately $235,000. Los Angeles Capital Management LLC purchased a new stake in NETGEAR in the 3rd quarter valued at $1,805,000. Versor Investments LP acquired a new stake in shares of NETGEAR in the 3rd quarter worth $235,000. Empowered Funds LLC increased its stake in shares of NETGEAR by 23.2% in the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock worth $2,848,000 after acquiring an additional 26,756 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of NETGEAR during the 3rd quarter worth $91,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.