Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) CRO Sells $112,314.60 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) CRO Michael A. Werdann sold 9,244 shares of NETGEAR stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $12.15, for a total value of $112,314.60. Following the completion of the transaction, the executive now owns 79,668 shares of the company’s stock, valued at approximately $967,966.20. The sale was disclosed in a document filed with the SEC, which is available at this link.

NETGEAR Stock Performance

Shares of NTGR opened at $12.00 on Friday. The firm has a fifty day moving average of $14.54 and a 200-day moving average of $14.08. The company has a market cap of $348.84 million, a price-to-earnings ratio of -3.12 and a beta of 0.86. NETGEAR, Inc. has a 1 year low of $10.40 and a 1 year high of $15.93.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. NETGEAR had a negative net margin of 15.69% and a negative return on equity of 3.73%. The company had revenue of $188.67 million for the quarter, compared to analyst estimates of $185.14 million. During the same quarter last year, the business earned ($0.21) earnings per share. NETGEAR’s revenue was down 24.3% compared to the same quarter last year. Analysts predict that NETGEAR, Inc. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On NETGEAR

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in shares of NETGEAR in the first quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC raised its stake in shares of NETGEAR by 52.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,664 shares of the communications equipment provider’s stock worth $46,000 after buying an additional 1,257 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of NETGEAR in the fourth quarter valued at $53,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in NETGEAR by 121.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,842 shares of the communications equipment provider’s stock valued at $99,000 after buying an additional 4,295 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in NETGEAR by 527.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,842 shares of the communications equipment provider’s stock valued at $100,000 after acquiring an additional 5,752 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “neutral” rating and set a $13.00 target price on shares of NETGEAR in a report on Thursday, May 2nd.

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.