Sarah Butterfass Sells 2,704 Shares of NETGEAR (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Sarah Butterfass sold 2,704 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.90, for a total value of $72,737.60. Following the transaction, the director owned 38,953 shares in the company, valued at $1,047,835.70. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NETGEAR Stock Performance

NETGEAR stock opened at $25.74 on Friday. The stock has a market capitalization of $690.86 million, a price-to-earnings ratio of -29.25 and a beta of 1.17. NETGEAR, Inc. has a 52-week low of $19.00 and a 52-week high of $36.86. The stock’s 50 day moving average price is $24.98 and its two-hundred day moving average price is $23.62.

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

Analyst Ratings Changes

A number of research firms have issued reports on NTGR. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Stifel Nicolaus set a $36.00 target price on NETGEAR in a report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Hedge Funds Weigh In On NETGEAR

Large investors have recently modified their holdings of the company. Johnson Financial Group Inc. bought a new position in shares of NETGEAR in the 4th quarter worth $25,000. Comerica Bank lifted its holdings in shares of NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of NETGEAR by 161.7% in the 4th 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 in the last quarter. Jones Financial Companies Lllp raised its position in NETGEAR by 44.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 718 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its position in NETGEAR by 50.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock valued at $97,000 after buying an additional 1,000 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

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.