Pramod Badjate Sells 4,000 Shares of NETGEAR (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Pramod Badjate sold 4,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $24.60, for a total transaction of $98,400.00. Following the transaction, the insider directly owned 155,361 shares in the company, valued at approximately $3,821,880.60. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NETGEAR Stock Performance

Shares of NTGR stock traded up $0.68 on Friday, reaching $24.99. 434,399 shares of the company were exchanged, compared to its average volume of 446,946. The company has a market cap of $709.79 million, a price-to-earnings ratio of -27.46 and a beta of 1.10. The business has a 50-day moving average price of $30.79 and a 200 day moving average price of $28.85. NETGEAR, Inc. has a 1 year low of $18.75 and a 1 year high of $36.86.

Analyst Ratings Changes

A number of brokerages have recently commented on NTGR. Raymond James Financial increased their target price on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. UBS Group set a $35.00 price objective on shares of NETGEAR in a report on Thursday, August 21st. Weiss Ratings restated a “sell (d+)” rating on shares of NETGEAR in a report on Thursday, November 13th. Stifel Nicolaus increased their price target on NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Seaport Res Ptn raised NETGEAR to a “strong-buy” rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

Institutional Investors Weigh In On NETGEAR

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank lifted 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 worth $35,000 after buying an additional 429 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in NETGEAR in the second quarter valued at approximately $58,000. Rexford Capital Inc. acquired a new stake in NETGEAR during the second quarter worth approximately $58,000. Jones Financial Companies Lllp lifted its position in shares of NETGEAR by 44.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 718 shares during the last quarter. Finally, CWM LLC lifted its position in shares of NETGEAR by 35.4% during the 1st quarter. CWM LLC now owns 2,916 shares of the communications equipment provider’s stock worth $71,000 after buying an additional 763 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

NETGEAR Company Profile

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.