Charles J. Prober Sells 10,929 Shares of NETGEAR, Inc. (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the sale, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $25.45 on Wednesday. The business’s 50 day simple moving average is $27.60 and its two-hundred day simple moving average is $23.11. The firm has a market cap of $734.72 million, a P/E ratio of 63.63 and a beta of 0.83. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, equities analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Raymond James increased their price target on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of NETGEAR by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,332,316 shares of the communications equipment provider’s stock worth $37,132,000 after purchasing an additional 44,752 shares during the last quarter. American Century Companies Inc. raised its stake in shares of NETGEAR by 31.6% in the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider’s stock worth $21,473,000 after purchasing an additional 184,863 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of NETGEAR by 126.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider’s stock worth $18,818,000 after purchasing an additional 376,974 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of NETGEAR by 22.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 506,756 shares of the communications equipment provider’s stock worth $14,123,000 after purchasing an additional 93,737 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in shares of NETGEAR by 47.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider’s stock worth $11,319,000 after purchasing an additional 131,243 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

About NETGEAR

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.