Insider Selling: NETGEAR (NASDAQ:NTGR) Director Sells $51,880.00 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Laura Durr sold 2,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.94, for a total transaction of $51,880.00. Following the completion of the sale, the director owned 43,059 shares in the company, valued at $1,116,950.46. This represents a 4.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Laura Durr also recently made the following trade(s):

• On Tuesday, June 2nd, Laura Durr sold 1,000 shares of NETGEAR stock. The shares were sold at an average price of $26.76, for a total transaction of $26,760.00.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $24.09 on Friday. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86. The company’s fifty day moving average is $25.01 and its 200-day moving average is $23.62. The company has a market capitalization of $646.58 million, a PE ratio of -27.38 and a beta of 1.17.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTGR. Bank of America Corp DE lifted its position in NETGEAR by 71.5% during the 1st quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock valued at $5,258,000 after purchasing an additional 100,368 shares during the period. Royal Bank of Canada lifted its position in NETGEAR by 354.2% during the 1st quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock valued at $533,000 after purchasing an additional 19,019 shares during the period. Empowered Funds LLC lifted its position in NETGEAR by 15.5% during the 1st quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock valued at $3,492,000 after purchasing an additional 21,469 shares during the period. Renaissance Technologies LLC lifted its position in NETGEAR by 77.8% during the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after purchasing an additional 243,843 shares during the period. Finally, Caxton Associates LLP lifted its position in NETGEAR by 137.7% during the 1st quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock valued at $1,222,000 after purchasing an additional 32,415 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

NTGR has been the topic of several research reports. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two equities research 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. Based on data from MarketBeat, NETGEAR presently has a consensus 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.