Sei Investments Co. Boosts Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Sei Investments Co. boosted its stake in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 415.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 125,468 shares of the communications equipment provider's stock after acquiring an additional 101,146 shares during the quarter. Sei Investments Co. owned 0.44% of NETGEAR worth $3,497,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new stake in NETGEAR during the 3rd quarter worth approximately $348,000. Point72 Asset Management L.P. purchased a new stake in shares of NETGEAR during the third quarter worth approximately $255,000. Quarry LP raised 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 valued at $37,000 after purchasing an additional 741 shares during the last quarter. Tenzing Global Management LLC purchased a new position in NETGEAR in the 3rd quarter valued at $3,510,000. Finally, XTX Topco Ltd acquired a new stake in NETGEAR during the 3rd quarter worth $540,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In related news, CFO Murray Bryan sold 3,848 shares of the 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 transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles J. Prober sold 10,929 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the sale, the chief executive officer now directly owns 507,763 shares of the company's stock, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.

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NETGEAR Trading Down 1.7 %

NASDAQ:NTGR traded down $0.34 during trading hours on Tuesday, hitting $20.21. The company had a trading volume of 430,966 shares, compared to its average volume of 318,780. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $31.55. The company has a market cap of $583.44 million, a P/E ratio of 50.53 and a beta of 1.03. The company has a 50-day moving average of $25.42 and a 200 day moving average of $24.60.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NTGR shares. Raymond James increased their target price 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 shares of NETGEAR from a "buy" rating to a "hold" rating in a report on Friday, March 21st.

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.