NETGEAR, Inc. (NASDAQ:NTGR) Director Thomas H. Waechter Sells 2,000 Shares

NETGEAR, Inc. (NASDAQ:NTGR) Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was 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 directly owns 61,135 shares in the company, valued at approximately $1,859,726.70. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NETGEAR Stock Performance

Shares of NTGR opened at $26.91 on Thursday. The firm has a market capitalization of $774.20 million, a price-to-earnings ratio of 41.40 and a beta of 0.86. The stock’s fifty day moving average is $23.34 and its 200-day moving average is $18.77. NETGEAR, Inc. has a one year low of $10.48 and a one year high of $31.55.

Institutional Trading of NETGEAR

A number of hedge funds and other institutional investors have recently modified their holdings of NTGR. Franklin Resources Inc. boosted its stake in NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after buying an additional 2,166 shares in the last quarter. Barclays PLC increased its holdings in shares of NETGEAR by 10.5% in the third quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider’s stock valued at $870,000 after buying an additional 4,125 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of NETGEAR during the 3rd quarter valued at $540,000. Tenzing Global Management LLC bought a new stake in shares of NETGEAR during the 3rd quarter worth $3,510,000. Finally, Quarry LP lifted its holdings in shares of NETGEAR by 66.5% during the third 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. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a report on Friday, November 1st.

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.