Assenagon Asset Management S.A. Sells 26,471 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Assenagon Asset Management S.A. reduced its stake in NETGEAR, Inc. (NASDAQ:NTGR) by 16.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,340 shares of the communications equipment provider’s stock after selling 26,471 shares during the period. Assenagon Asset Management S.A. owned approximately 0.47% of NETGEAR worth $2,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NTGR. Allspring Global Investments Holdings LLC increased its holdings in NETGEAR by 229.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock valued at $157,000 after acquiring an additional 6,921 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NETGEAR by 7.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,180 shares of the communications equipment provider’s stock worth $1,190,000 after buying an additional 4,816 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of NETGEAR in the 1st quarter worth about $480,000. Headlands Technologies LLC bought a new stake in shares of NETGEAR in the 1st quarter worth about $30,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of NETGEAR in the 1st quarter worth about $176,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of NETGEAR from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

NETGEAR Stock Up 1.2 %

NETGEAR stock opened at $20.68 on Thursday. The company’s 50-day moving average price is $19.19 and its 200-day moving average price is $16.06. NETGEAR, Inc. has a twelve month low of $10.48 and a twelve month high of $22.62. The company has a market cap of $593.08 million, a PE ratio of -4.04 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.94). NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. The firm had revenue of $143.90 million for the quarter, compared to the consensus estimate of $132.69 million. As a group, sell-side analysts expect that NETGEAR, Inc. will post -1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas H. Waechter sold 2,500 shares of NETGEAR stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the transaction, the director now directly owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is owned by corporate insiders.

NETGEAR Profile

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.