NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 56.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,592 shares of the communications equipment provider’s stock after selling 9,739 shares during the quarter. Jennison Associates LLC’s holdings in NETGEAR were worth $361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NTGR. Royce & Associates LP raised its stake in NETGEAR by 43,220.6% during the second quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock worth $33,608,000 after acquiring an additional 777,971 shares in the last quarter. Bank of New York Mellon Corp raised its stake in NETGEAR by 33.3% during the second quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock worth $74,165,000 after acquiring an additional 429,429 shares in the last quarter. Alliancebernstein L.P. raised its stake in NETGEAR by 28.2% during the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after acquiring an additional 311,735 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in NETGEAR during the second quarter worth about $12,722,000. Finally, First Trust Advisors LP raised its stake in NETGEAR by 34.5% during the second quarter. First Trust Advisors LP now owns 1,154,306 shares of the communications equipment provider’s stock worth $49,751,000 after acquiring an additional 295,823 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

NTGR has been the subject of several recent research reports. BWS Financial raised NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, October 9th. Zacks Investment Research downgraded NETGEAR from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $62.75.

In related news, SVP Tamesa Rogers sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $46.80, for a total value of $70,200.00. Following the sale, the senior vice president now directly owns 23,703 shares in the company, valued at $1,109,300.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Patrick Cs Lo sold 19,799 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $45.35, for a total value of $897,884.65. Following the completion of the sale, the chairman now owns 183,001 shares in the company, valued at $8,299,095.35. The disclosure for this sale can be found here. Insiders sold 102,138 shares of company stock worth $4,960,106 over the last quarter. 6.20% of the stock is currently owned by company insiders.

NETGEAR, Inc. (NTGR) traded down $0.10 during trading on Wednesday, hitting $50.85. The stock had a trading volume of 227,206 shares, compared to its average volume of 398,486. NETGEAR, Inc. has a one year low of $41.50 and a one year high of $59.92. The firm has a market capitalization of $1,590.00, a P/E ratio of 20.52 and a beta of 1.52.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.13. NETGEAR had a return on equity of 10.57% and a net margin of 5.33%. The business had revenue of $355.48 million for the quarter, compared to analysts’ expectations of $349.36 million. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. analysts forecast that NETGEAR, Inc. will post 2.24 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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