Tenzing Global Management LLC Buys New Position in NETGEAR, Inc. (NASDAQ:NTGR)

Tenzing Global Management LLC bought a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 175,000 shares of the communications equipment provider's stock, valued at approximately $3,510,000. NETGEAR comprises about 2.5% of Tenzing Global Management LLC's holdings, making the stock its 13th biggest position. Tenzing Global Management LLC owned approximately 0.61% of NETGEAR as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brandes Investment Partners LP increased its position in shares of NETGEAR by 6.8% during the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider's stock valued at $59,246,000 after purchasing an additional 247,162 shares during the last quarter. American Century Companies Inc. boosted its holdings in NETGEAR by 137.3% in the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider's stock valued at $5,415,000 after acquiring an additional 204,734 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of NETGEAR by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider's stock worth $39,642,000 after acquiring an additional 105,994 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of NETGEAR in the 3rd quarter worth approximately $1,805,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in NETGEAR by 124.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider's stock worth $2,917,000 after buying an additional 80,746 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,500 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the transaction, the director now owns 65,318 shares in the company, valued at approximately $1,306,360. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.00% of the company's stock.

NETGEAR Price Performance

Shares of NASDAQ NTGR traded down $0.47 during trading on Friday, hitting $24.89. 78,700 shares of the company were exchanged, compared to its average volume of 269,085. The company has a market cap of $716.09 million, a price-to-earnings ratio of 39.02 and a beta of 0.86. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $25.81. The firm's fifty day moving average price is $22.35 and its 200 day moving average price is $17.98.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of NETGEAR from a "hold" rating to a "buy" rating in a research note on Friday, November 1st.

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.