Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) Director Sells $60,840.00 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the transaction, the director now directly owns 61,135 shares in the company, valued at $1,859,726.70. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $28.00 on Friday. The business’s 50-day simple moving average is $23.62 and its 200 day simple moving average is $18.93. The company has a market cap of $805.56 million, a P/E ratio of 43.08 and a beta of 0.86. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

Institutional Trading of NETGEAR

A number of hedge funds have recently made changes to their positions in the company. Brandes Investment Partners LP grew its holdings in NETGEAR by 6.8% during the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after acquiring an additional 247,162 shares in the last quarter. American Century Companies Inc. lifted its holdings in NETGEAR by 137.3% during the 2nd quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after buying an additional 204,734 shares during the last quarter. Tenzing Global Management LLC bought a new position in NETGEAR during the 3rd quarter worth approximately $3,510,000. Los Angeles Capital Management LLC acquired a new position in shares of NETGEAR in the 3rd quarter worth approximately $1,805,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of NETGEAR by 124.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider’s stock valued at $2,917,000 after acquiring an additional 80,746 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.