Proficio Capital Partners LLC Purchases New Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

Proficio Capital Partners LLC purchased a new stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,130 shares of the communications equipment provider's stock, valued at approximately $394,000.

A number of other large investors also recently modified their holdings of NTGR. Empowered Funds LLC grew its stake in shares of NETGEAR by 23.2% during 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. Rhumbline Advisers increased its stake in NETGEAR by 32.0% in the fourth quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider's stock valued at $1,946,000 after acquiring an additional 16,920 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of NETGEAR by 285.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider's stock worth $2,221,000 after purchasing an additional 59,005 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of NETGEAR during the 4th quarter valued at about $852,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in NETGEAR in the fourth quarter worth approximately $1,385,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

NTGR has been the subject of a number of research reports. Raymond James upped their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. StockNews.com cut shares of NETGEAR from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd.

Remove Ads

NETGEAR Price Performance

Shares of NETGEAR stock traded down $0.76 during trading on Thursday, hitting $23.64. 369,535 shares of the company's stock traded hands, compared to its average volume of 387,219. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $31.55. The business has a 50-day simple moving average of $26.80 and a 200-day simple moving average of $23.82. The stock has a market capitalization of $682.46 million, a P/E ratio of 59.10 and a beta of 0.72.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, equities analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Charles J. Prober sold 10,929 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the completion of the sale, the director now owns 61,135 shares in the company, valued at approximately $1,859,726.70. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

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.