Insider Selling: NetGear, Inc. (NTGR) Insider Sells 3,000 Shares of Stock
NetGear, Inc. (NASDAQ:NTGR) insider Mark G. Merrill sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $54.05, for a total transaction of $162,150.00. Following the completion of the transaction, the insider now directly owns 30,659 shares of the company’s stock, valued at approximately $1,657,118.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
NetGear, Inc. (NASDAQ:NTGR) traded up $4.20 during midday trading on Monday, hitting $59.55. 802,599 shares of the stock traded hands, compared to its average volume of 407,943. NetGear, Inc. has a twelve month low of $41.50 and a twelve month high of $59.95. The stock has a market capitalization of $1,741.86, a price-to-earnings ratio of 22.23 and a beta of 1.52.
NetGear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The company had revenue of $355.48 million during the quarter, compared to the consensus estimate of $349.36 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. sell-side analysts expect that NetGear, Inc. will post 2.24 earnings per share for the current fiscal year.
Several research analysts have recently commented on NTGR shares. BWS Financial raised shares of NetGear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, October 9th. Zacks Investment Research lowered shares of NetGear from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. BidaskClub raised shares of NetGear from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Raymond James Financial raised shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research note on Monday. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. NetGear has an average rating of “Hold” and a consensus price target of $62.60.
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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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