NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 26.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,963 shares of the communications equipment provider’s stock after selling 134,434 shares during the period. Charles Schwab Investment Management Inc. owned 1.30% of NETGEAR worth $10,422,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in NETGEAR by 32.0% in the fourth quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider’s stock worth $1,946,000 after buying an additional 16,920 shares during the period. Robeco Institutional Asset Management B.V. increased its position in NETGEAR by 285.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after buying an additional 59,005 shares during the period. Inspire Investing LLC acquired a new stake in NETGEAR in the fourth quarter worth $852,000. Bailard Inc. acquired a new stake in NETGEAR in the fourth quarter worth $362,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in NETGEAR in the fourth quarter worth $1,385,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTGR. Raymond James raised their price target on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut shares of NETGEAR from a “buy” rating to a “hold” rating in a research note on Friday.

Insiders Place Their Bets

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Murray Bryan sold 3,848 shares of the business’s 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 completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at approximately $4,617,325.44. This trade represents a 1.95 % 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 2.3 %

Shares of NASDAQ NTGR opened at $23.63 on Friday. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $31.55. The firm’s 50-day simple moving average is $26.44 and its 200 day simple moving average is $24.20. The stock has a market cap of $682.17 million, a P/E ratio of 59.08 and a beta of 0.72.

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

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.