Tudor Investment Corp ET AL Sells 85,876 Shares of NETGEAR, Inc. $NTGR

Tudor Investment Corp ET AL reduced its position in NETGEAR, Inc. (NASDAQ:NTGR) by 69.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,103 shares of the communications equipment provider’s stock after selling 85,876 shares during the period. Tudor Investment Corp ET AL’s holdings in NETGEAR were worth $1,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC raised its holdings in NETGEAR by 87.6% in the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after purchasing an additional 256,266 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of NETGEAR by 43.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock valued at $23,255,000 after acquiring an additional 218,347 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in NETGEAR in the third quarter valued at approximately $6,433,000. Qube Research & Technologies Ltd boosted its position in NETGEAR by 447.9% in the second quarter. Qube Research & Technologies Ltd now owns 153,524 shares of the communications equipment provider’s stock valued at $4,463,000 after buying an additional 125,504 shares during the last quarter. Finally, Invesco Ltd. boosted its position in NETGEAR by 54.4% in the second quarter. Invesco Ltd. now owns 351,059 shares of the communications equipment provider’s stock valued at $10,205,000 after buying an additional 123,637 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

NETGEAR Trading Up 1.2%

NASDAQ NTGR opened at $23.60 on Tuesday. The stock has a market cap of $663.40 million, a PE ratio of -38.06 and a beta of 1.09. NETGEAR, Inc. has a twelve month low of $19.00 and a twelve month high of $36.86. The stock has a fifty day simple moving average of $21.59 and a 200-day simple moving average of $25.23.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.21. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The business had revenue of $182.47 million during the quarter, compared to analysts’ expectations of $177.26 million. During the same period in the prior year, the business posted ($0.06) EPS. The company’s revenue was up .0% compared to the same quarter last year. Research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NTGR shares. Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Stifel Nicolaus set a $36.00 price objective on NETGEAR in a research note on Thursday, February 5th. Finally, Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NETGEAR presently has an average rating of “Hold” and a consensus target price of $36.00.

Insider Buying and Selling

In related news, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.97, for a total transaction of $62,910.00. Following the completion of the transaction, the insider directly owned 144,586 shares in the company, valued at $3,031,968.42. This trade represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.