Quantbot Technologies LP Acquires Shares of 27,405 NetGear, Inc. (NTGR)

Quantbot Technologies LP acquired a new stake in NetGear, Inc. (NASDAQ:NTGR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 27,405 shares of the communications equipment provider’s stock, valued at approximately $1,722,000. Quantbot Technologies LP owned about 0.09% of NetGear as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NTGR. Janus Henderson Group PLC acquired a new stake in shares of NetGear in the third quarter valued at approximately $58,328,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of NetGear in the third quarter valued at approximately $17,427,000. BlackRock Inc. raised its holdings in shares of NetGear by 5.5% in the second quarter. BlackRock Inc. now owns 4,566,762 shares of the communications equipment provider’s stock valued at $285,423,000 after purchasing an additional 236,386 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of NetGear in the second quarter valued at approximately $7,742,000. Finally, Water Island Capital LLC acquired a new stake in shares of NetGear in the third quarter valued at approximately $7,641,000. Institutional investors own 99.82% of the company’s stock.

In related news, SVP Michael F. Falcon sold 521 shares of the business’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $53.37, for a total transaction of $27,805.77. Following the transaction, the senior vice president now directly owns 41,326 shares in the company, valued at $2,205,568.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Werdann sold 2,250 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $66.20, for a total transaction of $148,950.00. Following the completion of the transaction, the senior vice president now owns 27,547 shares in the company, valued at $1,823,611.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,670 shares of company stock worth $3,462,672. 5.10% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of NetGear from a “hold” rating to a “sell” rating in a report on Friday, September 21st. TheStreet downgraded shares of NetGear from a “b-” rating to a “c+” rating in a report on Monday, August 13th. ValuEngine upgraded shares of NetGear from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Guggenheim restated a “buy” rating on shares of NetGear in a report on Tuesday, August 28th. Finally, BWS Financial set a $65.00 target price on shares of NetGear and gave the stock a “buy” rating in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. NetGear currently has a consensus rating of “Hold” and an average target price of $70.40.

Shares of NTGR opened at $55.40 on Friday. The firm has a market cap of $1.70 billion, a P/E ratio of 23.88 and a beta of 2.11. NetGear, Inc. has a 1-year low of $49.60 and a 1-year high of $78.30.

NetGear (NASDAQ:NTGR) last issued its earnings results on Thursday, October 25th. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.25. The business had revenue of $400.59 million for the quarter, compared to the consensus estimate of $388.94 million. NetGear had a negative net margin of 1.43% and a positive return on equity of 8.75%. Analysts anticipate that NetGear, Inc. will post 0.3 EPS for the current year.

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About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

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Institutional Ownership by Quarter for NetGear (NASDAQ:NTGR)

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