NetGear, Inc. (NASDAQ:NTGR) SVP David John Henry sold 3,305 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $56.67, for a total transaction of $187,294.35. Following the completion of the transaction, the senior vice president now directly owns 34,300 shares of the company’s stock, valued at approximately $1,943,781. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
NetGear stock traded up $2.78 during trading on Wednesday, reaching $56.56. The company had a trading volume of 257,800 shares, compared to its average volume of 377,779. NetGear, Inc. has a 12-month low of $44.70 and a 12-month high of $78.30. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 24.38 and a beta of 2.11.
A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in NetGear by 0.5% in the second quarter. FMR LLC now owns 4,729,564 shares of the communications equipment provider’s stock valued at $295,598,000 after purchasing an additional 22,490 shares during the period. BlackRock Inc. grew its holdings in NetGear by 5.5% in the second quarter. BlackRock Inc. now owns 4,566,762 shares of the communications equipment provider’s stock valued at $285,423,000 after purchasing an additional 236,386 shares during the period. First Trust Advisors LP grew its holdings in NetGear by 7.7% in the third quarter. First Trust Advisors LP now owns 1,548,641 shares of the communications equipment provider’s stock valued at $97,332,000 after purchasing an additional 111,301 shares during the period. Northern Trust Corp grew its holdings in NetGear by 5.5% in the second quarter. Northern Trust Corp now owns 802,635 shares of the communications equipment provider’s stock valued at $50,164,000 after purchasing an additional 42,185 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in NetGear by 1.6% in the second quarter. Macquarie Group Ltd. now owns 699,102 shares of the communications equipment provider’s stock valued at $43,694,000 after purchasing an additional 10,954 shares during the period. Hedge funds and other institutional investors own 99.99% of the company’s stock.
A number of research firms recently issued reports on NTGR. BidaskClub downgraded shares of NetGear from a “hold” rating to a “sell” rating in a report on Friday, September 21st. TheStreet downgraded shares of NetGear from a “b-” rating to a “c+” rating in a report on Monday, August 13th. ValuEngine upgraded shares of NetGear from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Guggenheim restated a “buy” rating on shares of NetGear in a report on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. NetGear currently has a consensus rating of “Hold” and a consensus target price of $70.40.
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NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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