Citigroup Inc. Has $1.72 Million Holdings in NETGEAR, Inc. (NTGR)
Citigroup Inc. grew its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,927 shares of the communications equipment provider’s stock after buying an additional 5,781 shares during the quarter. Citigroup Inc. owned 0.12% of NETGEAR worth $1,720,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in NETGEAR by 17.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of NETGEAR by 42.8% during the 1st quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock worth $135,000 after purchasing an additional 817 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of NETGEAR during the 1st quarter worth $139,000. US Bancorp DE grew its stake in shares of NETGEAR by 9.2% during the 1st quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 272 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in shares of NETGEAR by 364.8% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock worth $173,000 after purchasing an additional 2,747 shares during the period. Institutional investors own 98.85% of the company’s stock.
In other NETGEAR news, SVP Michael A. Werdann sold 8,153 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $43.01, for a total value of $350,660.53. Following the transaction, the senior vice president now owns 30,092 shares of the company’s stock, valued at $1,294,256.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David John Henry sold 4,694 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $234,700.00. Following the completion of the transaction, the senior vice president now directly owns 34,651 shares in the company, valued at approximately $1,732,550. The disclosure for this sale can be found here. Insiders sold 66,128 shares of company stock worth $3,065,616 over the last quarter. Company insiders own 6.20% of the company’s stock.
A number of brokerages recently commented on NTGR. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Global Equities Research restated a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NETGEAR has a consensus rating of “Hold” and a consensus target price of $61.97.
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NETGEAR, Inc. (NTGR) opened at 47.60 on Friday. The firm has a 50-day moving average of $47.02 and a 200-day moving average of $46.87. NETGEAR, Inc. has a 12-month low of $41.50 and a 12-month high of $60.82. The firm has a market cap of $1.50 billion, a P/E ratio of 21.84 and a beta of 1.54.
NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $330.72 million for the quarter, compared to analysts’ expectations of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. NETGEAR’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. On average, analysts expect that NETGEAR, Inc. will post $2.74 EPS for the current year.
NETGEAR Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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