Insider Selling: NETGEAR (NASDAQ:NTGR) Insider Sells 3,000 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.97, for a total value of $62,910.00. Following the completion of the transaction, the insider directly owned 144,586 shares in the company, valued at approximately $3,031,968.42. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pramod Badjate also recently made the following trade(s):

• On Wednesday, November 19th, Pramod Badjate sold 4,000 shares of NETGEAR stock. The stock was sold at an average price of $24.60, for a total value of $98,400.00.

NETGEAR Price Performance

NETGEAR stock traded up $0.08 during trading hours on Tuesday, hitting $20.95. 745,657 shares of the stock traded hands, compared to its average volume of 431,411. The firm’s 50 day moving average price is $23.87 and its 200-day moving average price is $26.94. The stock has a market capitalization of $594.98 million, a price-to-earnings ratio of -23.02 and a beta of 1.15. NETGEAR, Inc. has a 1 year low of $18.75 and a 1 year high of $36.86.

Wall Street Analyst Weigh In

NTGR has been the subject of several research reports. Stifel Nicolaus lifted their price objective on shares of NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Wall Street Zen cut shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Zacks Research downgraded shares of NETGEAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Raymond James Financial upped their price target on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.33.

Institutional Trading of NETGEAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi raised its position in shares of NETGEAR by 99.1% in the first quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock worth $1,179,000 after acquiring an additional 23,993 shares during the period. Goldman Sachs Group Inc. grew its position in shares of NETGEAR by 15.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock valued at $6,846,000 after acquiring an additional 37,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NETGEAR by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock valued at $1,814,000 after purchasing an additional 9,021 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in NETGEAR by 22.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 236,593 shares of the communications equipment provider’s stock worth $6,878,000 after purchasing an additional 42,815 shares during the period. Finally, KLP Kapitalforvaltning AS raised its holdings in NETGEAR by 67.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 28,200 shares of the communications equipment provider’s stock worth $820,000 after purchasing an additional 11,400 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.