Proficio Capital Partners LLC Acquires Shares of 14,130 NETGEAR, Inc. (NASDAQ:NTGR)

Proficio Capital Partners LLC purchased a new position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,130 shares of the communications equipment provider's stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd lifted 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 in the last quarter. Martingale Asset Management L P purchased a new stake in shares of NETGEAR in the third quarter worth $536,000. Verition Fund Management LLC bought a new stake in NETGEAR during the third quarter valued at $348,000. Point72 Asset Management L.P. purchased a new position in NETGEAR during the third quarter worth about $255,000. Finally, Quarry LP increased its stake in NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider's stock worth $37,000 after acquiring an additional 741 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 of the company's stock, valued at $13,526,806.32. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at approximately $4,617,325.44. This represents a 1.95 % 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.

Remove Ads

NETGEAR Price Performance

NASDAQ NTGR traded down $0.11 on Friday, reaching $24.72. 248,126 shares of the company's stock traded hands, compared to its average volume of 310,622. The stock has a market cap of $713.64 million, a PE ratio of 61.80 and a beta of 0.72. NETGEAR, Inc. has a 12 month low of $10.48 and a 12 month high of $31.55. The stock has a 50-day simple moving average of $26.25 and a 200 day simple moving average of $24.50.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. As a group, analysts anticipate that NETGEAR, Inc. will post -1.84 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on NTGR shares. Raymond James raised their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com downgraded NETGEAR from a "buy" rating to a "hold" rating in a research report on Friday, March 21st.

NETGEAR 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.