Sanctuary Advisors LLC Takes Position in NETGEAR, Inc. $NTGR

Sanctuary Advisors LLC acquired a new stake in NETGEAR, Inc. (NASDAQ:NTGR) during the 2nd quarter, Holdings Channel reports. The fund acquired 33,784 shares of the communications equipment provider’s stock, valued at approximately $789,000.

Other large investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in NETGEAR during the 2nd quarter worth about $1,310,000. Pinnacle Holdings LLC bought a new stake in shares of NETGEAR in the second quarter valued at about $1,310,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of NETGEAR during the second quarter worth about $180,000. Hara Capital LLC acquired a new position in shares of NETGEAR during the second quarter worth about $1,456,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of NETGEAR during the second quarter worth about $674,000. Institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $21.09 on Friday. The stock has a market capitalization of $573.23 million, a price-to-earnings ratio of -22.68 and a beta of 1.20. The business has a 50-day moving average of $23.00 and a 200-day moving average of $23.35. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business had revenue of $168.56 million for the quarter, compared to the consensus estimate of $157.80 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. NETGEAR’s quarterly revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that NETGEAR, Inc. will post -0.52 EPS for the current year.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $23.88, for a total transaction of $71,640.00. Following the transaction, the insider owned 154,073 shares of the company’s stock, valued at $3,679,263.24. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sarah Butterfass sold 2,704 shares of the company’s 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 sale, the director owned 38,953 shares in the company, valued at approximately $1,047,835.70. This represents a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,085 shares of company stock valued at $313,933 in the last ninety days. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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 assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NETGEAR currently has an average rating of “Hold” and an average price target of $36.50.

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.