Shravan Goli Sells 3,381 Shares of NETGEAR (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Shravan Goli sold 3,381 shares of the firm’s 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 sale, the director directly owned 25,857 shares of the company’s stock, valued at $695,294.73. The trade was a 11.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NETGEAR Price Performance

NASDAQ NTGR opened at $25.74 on Friday. The company has a market cap of $690.86 million, a P/E ratio of -29.25 and a beta of 1.17. The stock has a 50-day moving average of $24.98 and a two-hundred day moving average of $23.62. NETGEAR, Inc. has a 1-year low of $19.00 and a 1-year high of $36.86.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The company had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. During the same period in the previous year, the company posted $0.02 EPS. NETGEAR’s revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that NETGEAR, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Windward Management LP acquired a new position in NETGEAR during the fourth quarter worth $35,468,000. Concentric Capital Strategies LP acquired a new position in NETGEAR during the fourth quarter worth $7,020,000. Lazard Asset Management LLC grew its holdings in NETGEAR by 87.6% during the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after acquiring an additional 256,266 shares during the period. Renaissance Technologies LLC grew its holdings in NETGEAR by 77.8% during the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock worth $12,175,000 after acquiring an additional 243,843 shares during the period. Finally, OP Asset Management Ltd acquired a new position in NETGEAR during the first quarter worth $5,266,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NTGR shares. Stifel Nicolaus set a $36.00 target price on NETGEAR in a research note on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.00.

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.