Proficio Capital Partners LLC Makes New $394,000 Investment in NETGEAR, Inc. (NASDAQ:NTGR)

Proficio Capital Partners LLC purchased a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,130 shares of the communications equipment provider’s stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTGR. Creative Planning acquired a new stake in NETGEAR during the 3rd quarter worth about $235,000. Los Angeles Capital Management LLC acquired a new position in shares of NETGEAR in the 3rd quarter valued at about $1,805,000. Versor Investments LP acquired a new position in shares of NETGEAR in the 3rd quarter valued at about $235,000. Empowered Funds LLC lifted its holdings in shares of NETGEAR by 23.2% in the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock valued at $2,848,000 after buying an additional 26,756 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of NETGEAR in the 3rd quarter valued at about $91,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at NETGEAR

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas H. Waechter sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the sale, the director now owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

NETGEAR Stock Down 5.1 %

Shares of NETGEAR stock opened at $22.11 on Tuesday. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55. The business has a 50-day moving average price of $27.03 and a 200 day moving average price of $23.76. The firm has a market cap of $638.29 million, a PE ratio of 55.28 and a beta of 0.72.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, sell-side analysts expect that NETGEAR, Inc. will post -1.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTGR. StockNews.com cut NETGEAR from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Raymond James boosted their price objective on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

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.