Citigroup Inc. Sells 21,422 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Citigroup Inc. decreased its stake in shares of NETGEAR, Inc. (NASDAQ:NTGRFree Report) by 84.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,015 shares of the communications equipment provider’s stock after selling 21,422 shares during the quarter. Citigroup Inc.’s holdings in NETGEAR were worth $51,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Osaic Holdings Inc. boosted its holdings in shares of NETGEAR by 512.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,973 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 1,651 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in NETGEAR by 138.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,388 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 1,386 shares during the last quarter. Quarry LP purchased a new position in NETGEAR during the 2nd quarter valued at approximately $39,000. US Bancorp DE increased its stake in NETGEAR by 53.8% in the 2nd quarter. US Bancorp DE now owns 2,926 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 1,024 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of NETGEAR by 81.7% during the 2nd quarter. Royal Bank of Canada now owns 3,084 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 1,387 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Vikram Mehta sold 1,844 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $14.48, for a total value of $26,701.12. Following the completion of the sale, the senior vice president now directly owns 25,569 shares of the company’s stock, valued at approximately $370,239.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other NETGEAR news, SVP Vikram Mehta sold 1,844 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $14.48, for a total transaction of $26,701.12. Following the transaction, the senior vice president now owns 25,569 shares in the company, valued at $370,239.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Wonki Kim sold 5,457 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $13.77, for a total transaction of $75,142.89. Following the completion of the sale, the insider now owns 93,890 shares of the company’s stock, valued at approximately $1,292,865.30. The disclosure for this sale can be found here. Insiders have sold 15,234 shares of company stock valued at $216,178 over the last ninety days. 6.00% of the stock is owned by insiders.

NETGEAR Stock Performance

NTGR stock opened at $15.70 on Tuesday. The firm has a fifty day moving average price of $14.74 and a 200 day moving average price of $13.67. NETGEAR, Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $18.75. The firm has a market cap of $465.66 million, a PE ratio of -4.42 and a beta of 0.84.

NETGEAR (NASDAQ:NTGRGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $188.67 million during the quarter, compared to analysts’ expectations of $185.14 million. NETGEAR had a negative net margin of 14.14% and a negative return on equity of 2.96%. The business’s revenue was down 24.3% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. On average, equities analysts predict that NETGEAR, Inc. will post -0.16 EPS for the current year.

About NETGEAR

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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