Sanctuary Advisors LLC Buys Shares of 42,244 NETGEAR, Inc. (NASDAQ:NTGR)

Sanctuary Advisors LLC bought a new stake in NETGEAR, Inc. (NASDAQ:NTGR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 42,244 shares of the communications equipment provider’s stock, valued at approximately $627,000. Sanctuary Advisors LLC owned approximately 0.15% of NETGEAR at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in NETGEAR in the 1st quarter valued at about $30,000. Allspring Global Investments Holdings LLC grew its position 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 buying an additional 6,921 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of NETGEAR during the first quarter worth about $176,000. Quadrature Capital Ltd grew its position 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 buying an additional 9,527 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of NETGEAR during the second quarter worth about $446,000. 82.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Stock Performance

Shares of NETGEAR stock opened at $20.69 on Tuesday. The business has a 50-day simple moving average of $17.86 and a 200-day simple moving average of $15.59. The company has a market cap of $602.08 million, a PE ratio of -5.37 and a beta of 0.83. NETGEAR, Inc. has a one year low of $10.40 and a one year high of $22.62.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting the consensus estimate of ($0.94). The firm had revenue of $143.90 million during the quarter, compared to analysts’ expectations of $132.69 million. NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. On average, sell-side analysts predict that NETGEAR, Inc. will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the sale, the director now owns 65,318 shares in the company, valued at $1,306,360. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded NETGEAR from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th.

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.