Murray Bryan Sells 3,848 Shares of NETGEAR, Inc. (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) CFO Murray Bryan sold 3,848 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now directly owns 193,032 shares of the company’s stock, valued at approximately $4,617,325.44. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NETGEAR Stock Up 0.7 %

NTGR stock opened at $23.86 on Wednesday. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55. The firm has a market cap of $688.81 million, a P/E ratio of 59.65 and a beta of 0.72. The company’s 50-day simple moving average is $26.59 and its 200-day simple moving average is $24.09.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on NTGR shares. StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Raymond James boosted their price target on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

Hedge Funds Weigh In On NETGEAR

A number of large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new stake in shares of NETGEAR in the fourth quarter valued at about $1,190,000. Public Employees Retirement System of Ohio boosted its holdings in NETGEAR by 27.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 52,169 shares of the communications equipment provider’s stock worth $1,454,000 after buying an additional 11,259 shares during the last quarter. PharVision Advisers LLC acquired a new stake in NETGEAR in the 4th quarter worth about $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NETGEAR by 44.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,125 shares of the communications equipment provider’s stock worth $1,815,000 after buying an additional 20,158 shares in the last quarter. Finally, Tenzing Global Management LLC raised its holdings in shares of NETGEAR by 64.3% during the fourth quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider’s stock valued at $8,013,000 after acquiring an additional 112,500 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.