Spark Investment Management LLC Purchased Shares of 40,800 NetGear, Inc. (NTGR)

Spark Investment Management LLC Purchased Shares of 40,800 NetGear, Inc. (NTGR)

Spark Investment Management LLC purchased a new position in NetGear, Inc. (NASDAQ:NTGR) during the first quarter, Holdings Channel reports. The institutional investor purchased 40,800 shares of the communications equipment provider’s stock, valued at approximately $2,021,000.

Several other large investors have also bought and sold shares of the company. Ifrah Financial Services Inc. purchased a new stake in shares of NetGear during the third quarter valued at approximately $218,000. HBK Investments L P boosted its stake in NetGear by 40.2% in the third quarter. HBK Investments L P now owns 14,300 shares of the communications equipment provider’s stock worth $865,000 after buying an additional 4,100 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in NetGear by 1,067.7% in the third quarter. Panagora Asset Management Inc. now owns 222,605 shares of the communications equipment provider’s stock worth $13,465,000 after buying an additional 203,542 shares in the last quarter. Jane Street Group LLC bought a new stake in NetGear during the third quarter worth about $875,000. Finally, Russell Investments Group Ltd. bought a new stake in NetGear during the fourth quarter worth about $11,136,000. 98.73% of the stock is owned by institutional investors and hedge funds.

Shares of NetGear, Inc. (NTGR) traded up 1.52% on Friday, hitting $43.35. 228,066 shares of the stock were exchanged. NetGear, Inc. has a 52-week low of $41.50 and a 52-week high of $60.82. The company has a 50 day moving average of $46.10 and a 200 day moving average of $52.08. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 19.54 and a beta of 1.62.

NetGear (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, April 26th. The communications equipment provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. NetGear had a return on equity of 12.00% and a net margin of 5.71%. The company had revenue of $323.70 million during the quarter, compared to analyst estimates of $309.48 million. During the same quarter last year, the firm posted $0.74 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that NetGear, Inc. will post $2.65 earnings per share for the current year.

NTGR has been the subject of a number of research reports. Zacks Investment Research cut shares of NetGear from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 14th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of NetGear in a report on Wednesday, February 8th. Finally, Off Wall Street reissued a “sell” rating and issued a $36.00 target price on shares of NetGear in a report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.79.

In other NetGear news, CEO Patrick Cs Lo sold 9,900 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $46.79, for a total transaction of $463,221.00. Following the completion of the transaction, the chief executive officer now owns 155,418 shares of the company’s stock, valued at $7,272,008.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark G. Merrill sold 3,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $45.00, for a total value of $135,000.00. Following the transaction, the insider now directly owns 23,944 shares of the company’s stock, valued at approximately $1,077,480. The disclosure for this sale can be found here. Insiders have sold 47,952 shares of company stock valued at $2,351,539 in the last three months. Insiders own 5.40% of the company’s stock.

About NetGear

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:NTGR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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