NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC trimmed its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 2.4% during the first quarter, HoldingsChannel reports. The fund owned 130,939 shares of the communications equipment provider’s stock after selling 3,195 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in NETGEAR were worth $2,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC acquired a new position in shares of NETGEAR during the first quarter worth about $480,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NETGEAR by 7.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,180 shares of the communications equipment provider’s stock worth $1,190,000 after acquiring an additional 4,816 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of NETGEAR by 229.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock worth $157,000 after acquiring an additional 6,921 shares during the period. Quadrature Capital Ltd increased its stake in shares of NETGEAR by 53.1% during the fourth quarter. Quadrature Capital Ltd now owns 27,482 shares of the communications equipment provider’s stock worth $401,000 after acquiring an additional 9,527 shares during the period. Finally, Pinnacle Holdings LLC increased its stake in shares of NETGEAR by 11.6% during the fourth quarter. Pinnacle Holdings LLC now owns 37,731 shares of the communications equipment provider’s stock worth $550,000 after acquiring an additional 3,924 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

NETGEAR Stock Performance

NTGR stock traded up $0.02 during trading on Monday, reaching $15.02. 19,085 shares of the company were exchanged, compared to its average volume of 234,069. The company has a market cap of $437.08 million, a P/E ratio of -3.90 and a beta of 0.81. NETGEAR, Inc. has a 52-week low of $10.40 and a 52-week high of $15.93. The stock’s 50 day moving average price is $13.85 and its 200 day moving average price is $14.32.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). NETGEAR had a negative return on equity of 3.73% and a negative net margin of 15.69%. The company had revenue of $164.59 million for the quarter, compared to analysts’ expectations of $163.86 million. As a group, equities research analysts forecast that NETGEAR, Inc. will post -2.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “neutral” rating and set a $13.00 price objective on shares of NETGEAR in a report on Thursday, May 2nd.

Insider Buying and Selling at NETGEAR

In other NETGEAR news, CMO Heidi Cormack sold 4,687 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $12.20, for a total value of $57,181.40. Following the sale, the chief marketing officer now owns 88,298 shares of the company’s stock, valued at $1,077,235.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Michael A. Werdann sold 9,244 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $12.15, for a total value of $112,314.60. Following the completion of the transaction, the executive now owns 79,668 shares of the company’s stock, valued at $967,966.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Heidi Cormack sold 4,687 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $12.20, for a total transaction of $57,181.40. Following the completion of the transaction, the chief marketing officer now directly owns 88,298 shares of the company’s stock, valued at approximately $1,077,235.60. The disclosure for this sale can be found here. Insiders have sold 24,244 shares of company stock valued at $308,028 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

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.