Insider Selling: NETGEAR, Inc. (NTGR) Chairman Sells $1,010,738.95 in Stock
NETGEAR, Inc. (NASDAQ:NTGR) Chairman Patrick Cs Lo sold 19,799 shares of NETGEAR stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $51.05, for a total value of $1,010,738.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Patrick Cs Lo also recently made the following trade(s):
- On Thursday, November 2nd, Patrick Cs Lo sold 19,799 shares of NETGEAR stock. The stock was sold at an average price of $45.35, for a total value of $897,884.65.
- On Monday, October 2nd, Patrick Cs Lo sold 19,799 shares of NETGEAR stock. The stock was sold at an average price of $47.63, for a total value of $943,026.37.
Shares of NETGEAR, Inc. (NTGR) opened at $50.85 on Thursday. NETGEAR, Inc. has a 52 week low of $41.50 and a 52 week high of $59.92. The firm has a market capitalization of $1,603.39, a PE ratio of 20.46 and a beta of 1.52.
NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. NETGEAR had a return on equity of 10.57% and a net margin of 5.33%. The company had revenue of $355.48 million during the quarter, compared to analyst estimates of $349.36 million. During the same quarter in the previous year, the company posted $0.76 EPS. NETGEAR’s revenue for the quarter was up 5.0% on a year-over-year basis. equities analysts anticipate that NETGEAR, Inc. will post 2.24 earnings per share for the current year.
NTGR has been the subject of several research analyst reports. Zacks Investment Research lowered NETGEAR from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. BWS Financial raised NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. NETGEAR presently has a consensus rating of “Hold” and an average target price of $62.75.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of NETGEAR by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock valued at $138,000 after acquiring an additional 482 shares during the last quarter. Amalgamated Bank bought a new position in NETGEAR during the 3rd quarter valued at approximately $207,000. M&T Bank Corp raised its position in NETGEAR by 31.5% during the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock valued at $234,000 after purchasing an additional 1,300 shares during the last quarter. K.J. Harrison & Partners Inc bought a new position in NETGEAR during the 3rd quarter valued at approximately $286,000. Finally, First Mercantile Trust Co. raised its position in NETGEAR by 12.4% during the 2nd quarter. First Mercantile Trust Co. now owns 6,038 shares of the communications equipment provider’s stock valued at $260,000 after purchasing an additional 668 shares during the last quarter. 97.52% of the stock is owned by institutional investors.
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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