Prudential Financial Inc. Purchases New Shares in NETGEAR, Inc. $NTGR

Prudential Financial Inc. purchased a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 59,986 shares of the communications equipment provider’s stock, valued at approximately $1,744,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in shares of NETGEAR by 19.6% during the first quarter. Headlands Technologies LLC now owns 3,010 shares of the communications equipment provider’s stock valued at $74,000 after acquiring an additional 494 shares in the last quarter. Bailard Inc. boosted its holdings in NETGEAR by 9.9% in the second quarter. Bailard Inc. now owns 10,000 shares of the communications equipment provider’s stock valued at $291,000 after purchasing an additional 900 shares during the last quarter. Rhumbline Advisers grew its stake in NETGEAR by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock valued at $1,502,000 after purchasing an additional 1,140 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in NETGEAR by 10.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 14,389 shares of the communications equipment provider’s stock valued at $352,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in NETGEAR by 6.8% during the 2nd quarter. Ritholtz Wealth Management now owns 21,596 shares of the communications equipment provider’s stock worth $628,000 after purchasing an additional 1,371 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTGR has been the subject of several research analyst reports. UBS Group set a $35.00 target price on NETGEAR in a research note on Thursday, August 21st. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Monday. Raymond James Financial lifted their price target on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Seaport Res Ptn upgraded shares of NETGEAR to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Zacks Research cut shares of NETGEAR from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.33.

NETGEAR Stock Performance

NETGEAR stock opened at $26.62 on Friday. NETGEAR, Inc. has a one year low of $18.75 and a one year high of $36.86. The company has a 50-day simple moving average of $30.21 and a 200-day simple moving average of $28.63. The firm has a market capitalization of $756.01 million, a P/E ratio of -29.25 and a beta of 1.20.

Insider Activity

In other news, insider Pramod Badjate sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $24.60, for a total transaction of $98,400.00. Following the completion of the transaction, the insider directly owned 155,361 shares in the company, valued at approximately $3,821,880.60. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bradley Maiorino sold 13,063 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $35.26, for a total value of $460,601.38. Following the completion of the transaction, the director directly owned 56,356 shares of the company’s stock, valued at $1,987,112.56. This trade represents a 18.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,315 shares of company stock worth $661,592 in the last quarter. Company insiders own 2.30% 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.