Martingale Asset Management L P Invests $536,000 in NETGEAR, Inc. (NASDAQ:NTGR)

Martingale Asset Management L P acquired a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 26,725 shares of the communications equipment provider's stock, valued at approximately $536,000. Martingale Asset Management L P owned 0.09% of NETGEAR at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its stake in NETGEAR by 62.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,200 shares of the communications equipment provider's stock worth $505,000 after purchasing an additional 9,718 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 valued at $2,917,000 after purchasing an additional 80,746 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of NETGEAR in the 3rd quarter valued at $91,000. Empowered Funds LLC raised its holdings in NETGEAR by 23.2% in the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider's stock worth $2,848,000 after acquiring an additional 26,756 shares during the period. Finally, Versor Investments LP bought a new position in NETGEAR in the 3rd quarter worth $235,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling at NETGEAR

In other news, Director Thomas H. Waechter sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.00% of the company's stock.

Analyst Ratings Changes

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

NETGEAR Stock Down 0.7 %

NASDAQ:NTGR traded down $0.19 on Wednesday, reaching $25.32. The stock had a trading volume of 479,961 shares, compared to its average volume of 270,021. The company has a market capitalization of $728.46 million, a P/E ratio of 39.25 and a beta of 0.86. NETGEAR, Inc. has a 1-year low of $10.48 and a 1-year high of $25.80. The stock has a fifty day moving average price of $22.13 and a 200-day moving average price of $17.88.

About NETGEAR

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.