Assenagon Asset Management S.A. Sells 26,471 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Assenagon Asset Management S.A. lessened its holdings in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 16.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,340 shares of the communications equipment provider's stock after selling 26,471 shares during the quarter. Assenagon Asset Management S.A. owned about 0.47% of NETGEAR worth $2,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTGR. Acadian Asset Management LLC grew its holdings in NETGEAR by 72.4% in the first quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider's stock worth $9,820,000 after purchasing an additional 261,705 shares during the period. Brandes Investment Partners LP grew its holdings in shares of NETGEAR by 6.8% during the second quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider's stock valued at $59,246,000 after buying an additional 247,162 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of NETGEAR by 137.3% during 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 buying an additional 204,734 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of NETGEAR by 4.4% during the first quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider's stock valued at $39,642,000 after buying an additional 105,994 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of NETGEAR by 125.0% during the second quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider's stock valued at $1,957,000 after buying an additional 71,054 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR traded up $1.23 during trading on Thursday, reaching $21.91. 365,278 shares of the stock traded hands, compared to its average volume of 254,851. The stock has a market cap of $628.36 million, a P/E ratio of -4.04 and a beta of 0.83. The stock has a 50-day moving average of $19.19 and a two-hundred day moving average of $16.06. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $22.62.

NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.94). The company had revenue of $143.90 million for the quarter, compared to the consensus estimate of $132.69 million. NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. Sell-side analysts expect that NETGEAR, Inc. will post -1.97 earnings per share for the current year.

Insider Activity at NETGEAR

In related news, Director Thomas H. Waechter sold 2,500 shares of the 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 owns 65,318 shares in the company, valued at $1,306,360. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of NETGEAR from a "buy" rating to a "hold" rating in a report on Tuesday, September 17th.

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.