NETGEAR, Inc. (NASDAQ:NTGR) Shares Purchased by Tenzing Global Management LLC

Tenzing Global Management LLC boosted its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 64.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 287,500 shares of the communications equipment provider’s stock after purchasing an additional 112,500 shares during the quarter. NETGEAR makes up 6.0% of Tenzing Global Management LLC’s portfolio, making the stock its 5th biggest holding. Tenzing Global Management LLC’s holdings in NETGEAR were worth $8,013,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NTGR. State of Wyoming acquired a new stake in NETGEAR in the 4th quarter valued at about $408,000. Sherbrooke Park Advisers LLC grew its position in shares of NETGEAR by 26.9% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 16,778 shares of the communications equipment provider’s stock valued at $468,000 after purchasing an additional 3,555 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of NETGEAR during the 4th quarter worth approximately $219,000. Nuveen Asset Management LLC raised its position in shares of NETGEAR by 27.6% during the 4th quarter. Nuveen Asset Management LLC now owns 113,356 shares of the communications equipment provider’s stock worth $3,159,000 after purchasing an additional 24,487 shares during the last quarter. Finally, NorthRock Partners LLC purchased a new stake in NETGEAR in the 4th quarter valued at approximately $833,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

NTGR has been the topic of a number of analyst reports. StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Raymond James increased their price objective on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

NETGEAR Price Performance

NETGEAR stock opened at $30.38 on Friday. The stock has a market capitalization of $874.40 million, a P/E ratio of 75.95 and a beta of 1.09. NETGEAR, Inc. has a 12-month low of $12.39 and a 12-month high of $31.55. The firm’s 50-day moving average is $24.50 and its two-hundred day moving average is $25.55.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.37. The business had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. As a group, analysts forecast that NETGEAR, Inc. will post -1.84 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now owns 507,763 shares of the company’s stock, valued at $13,526,806.32. This represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Murray Bryan sold 3,848 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now owns 193,032 shares in the company, valued at approximately $4,617,325.44. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,448 shares of company stock valued at $458,221 in the last quarter. 7.00% of the stock is currently owned by company insiders.

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.