Pramod Badjate Sells 3,000 Shares of NETGEAR (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 3,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the transaction, the insider owned 154,073 shares in the company, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NETGEAR Stock Down 0.7%

NASDAQ NTGR opened at $24.38 on Thursday. The company has a market cap of $654.36 million, a price-to-earnings ratio of -27.70 and a beta of 1.20. The business has a 50 day moving average price of $23.79 and a 200-day moving average price of $23.21. NETGEAR, Inc. has a 52 week low of $19.00 and a 52 week high of $36.86.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NETGEAR presently has a consensus rating of “Hold” and an average price target of $36.00.

Hedge Funds Weigh In On NETGEAR

Large investors have recently modified their holdings of the business. Johnson Financial Group Inc. purchased a new stake in NETGEAR in the 4th quarter worth approximately $25,000. Comerica Bank grew its position in shares of NETGEAR by 64.8% during the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 429 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of NETGEAR by 161.7% in the fourth quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 1,386 shares during the period. Fifth Third Bancorp increased its holdings in shares of NETGEAR by 6,085.7% in the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 2,982 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of NETGEAR in the fourth quarter worth $89,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

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.