JPMorgan Chase & Co. Trims Stake in NETGEAR, Inc. (NASDAQ:NTGR)

JPMorgan Chase & Co. trimmed its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 5.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 428,726 shares of the communications equipment provider’s stock after selling 25,391 shares during the period. JPMorgan Chase & Co.’s holdings in NETGEAR were worth $8,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP increased its stake in shares of 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 purchasing an additional 741 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of NETGEAR in the 3rd quarter worth $91,000. Values First Advisors Inc. purchased a new stake in shares of NETGEAR in the 3rd quarter worth $144,000. Creative Planning purchased a new stake in NETGEAR in the 3rd quarter worth $235,000. Finally, Versor Investments LP purchased a new stake in NETGEAR in the 3rd quarter worth $235,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction dated 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 transaction, the director now owns 61,135 shares of the company’s stock, valued at $1,859,726.70. This 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. 7.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

NETGEAR Stock Performance

Shares of NTGR stock opened at $25.94 on Tuesday. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $31.55. The firm has a market capitalization of $746.29 million, a PE ratio of 39.91 and a beta of 0.83. The stock has a fifty day simple moving average of $25.64 and a two-hundred day simple moving average of $20.45.

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.