Proficio Capital Partners LLC Takes Position in NETGEAR, Inc. (NASDAQ:NTGR)

Proficio Capital Partners LLC acquired a new stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,130 shares of the communications equipment provider’s stock, valued at approximately $394,000.

A number of other hedge funds also recently bought and sold shares of the company. Quarry LP raised its stake in shares of NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 741 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of NETGEAR during the 4th quarter valued at $72,000. R Squared Ltd purchased a new position in NETGEAR in the 4th quarter worth $72,000. New York State Common Retirement Fund lifted its stake in NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock worth $211,000 after purchasing an additional 2,500 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in NETGEAR during the fourth quarter valued at about $223,000. Institutional investors own 82.97% of the company’s stock.

NETGEAR Stock Up 0.4 %

Shares of NTGR opened at $24.80 on Wednesday. The stock has a market capitalization of $715.95 million, a P/E ratio of 62.00 and a beta of 0.72. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $31.55. The firm has a fifty day simple moving average of $26.38 and a two-hundred day simple moving average of $24.37.

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

Analyst Ratings Changes

NTGR has been the topic of several analyst reports. Raymond James lifted their price objective on NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com lowered NETGEAR from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

Insider Transactions at NETGEAR

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the company’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 transaction, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Murray Bryan sold 3,848 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the transaction, the chief financial officer now owns 193,032 shares of the company’s stock, valued at approximately $4,617,325.44. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

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.