NETGEAR (NASDAQ:NTGR) Director Laura Durr Sells 2,000 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Laura Durr sold 2,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the sale, the director owned 43,059 shares of the company’s stock, valued at $1,116,950.46. This represents a 4.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Laura Durr also recently made the following trade(s):

• On Tuesday, June 2nd, Laura Durr sold 1,000 shares of NETGEAR stock. The stock was sold at an average price of $26.76, for a total value of $26,760.00.

NETGEAR Trading Down 3.9%

NASDAQ:NTGR opened at $26.19 on Thursday. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The stock has a 50-day moving average price of $24.95 and a 200 day moving average price of $23.63. The stock has a market capitalization of $702.94 million, a P/E ratio of -29.76 and a beta of 1.17.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 3.58% and a negative return on equity of 2.71%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. On average, research analysts predict that NETGEAR, Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On NETGEAR

Institutional investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in NETGEAR during the 4th quarter valued at approximately $25,000. Comerica Bank grew its holdings in NETGEAR by 64.8% during the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 429 shares in the last quarter. IFP Advisors Inc grew its holdings in NETGEAR by 161.7% during the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after buying an additional 1,386 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in NETGEAR by 44.7% during 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 in the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in NETGEAR by 50.0% during 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 in the last quarter. Hedge funds and other institutional investors 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.