Paloma Partners Management Co Cuts Position in Netgear (NTGR)

Paloma Partners Management Co lessened its holdings in Netgear (NASDAQ:NTGR) by 78.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,453 shares of the communications equipment provider’s stock after selling 12,677 shares during the quarter. Paloma Partners Management Co’s holdings in Netgear were worth $203,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in Netgear by 20.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 18,428 shares of the communications equipment provider’s stock worth $877,000 after purchasing an additional 3,110 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Netgear by 47.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 13,760 shares of the communications equipment provider’s stock worth $655,000 after purchasing an additional 4,410 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Netgear by 132.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 15,264 shares of the communications equipment provider’s stock worth $727,000 after purchasing an additional 8,710 shares in the last quarter. American International Group Inc. boosted its position in Netgear by 5.3% in the 3rd quarter. American International Group Inc. now owns 25,473 shares of the communications equipment provider’s stock worth $1,213,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Netgear by 4.5% in the 3rd quarter. Nordea Investment Management AB now owns 44,388 shares of the communications equipment provider’s stock worth $2,113,000 after purchasing an additional 1,926 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

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In other Netgear news, CEO Patrick Cs Lo sold 13,999 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $59.92, for a total value of $838,820.08. Following the completion of the sale, the chief executive officer now directly owns 183,125 shares of the company’s stock, valued at approximately $10,972,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tamesa Rogers sold 1,500 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $59.40, for a total value of $89,100.00. Following the completion of the sale, the senior vice president now directly owns 22,542 shares of the company’s stock, valued at $1,338,994.80. The disclosure for this sale can be found here. Insiders sold a total of 69,966 shares of company stock valued at $4,269,804 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.

A number of research analysts have recently issued reports on the company. BidaskClub upgraded Netgear from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Raymond James Financial upgraded Netgear from a “market perform” rating to an “outperform” rating and set a $62.00 target price on the stock in a research report on Monday, December 18th. Zacks Investment Research upgraded Netgear from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, BWS Financial set a $75.00 target price on Netgear and gave the company a “buy” rating in a research report on Friday, January 12th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.50.

NASDAQ NTGR opened at $57.20 on Friday. Netgear has a one year low of $41.50 and a one year high of $71.42. The firm has a market capitalization of $1,795.00, a P/E ratio of 24.66 and a beta of 1.93.

Netgear (NASDAQ:NTGR) last posted its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.07. Netgear had a return on equity of 9.92% and a net margin of 1.38%. The firm had revenue of $397.06 million during the quarter, compared to the consensus estimate of $393.27 million. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. equities analysts predict that Netgear will post 3.26 earnings per share for the current year.

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About Netgear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

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Institutional Ownership by Quarter for Netgear (NASDAQ:NTGR)

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