Geode Capital Management LLC Reduces Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Geode Capital Management LLC cut its position in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 672,522 shares of the communications equipment provider’s stock after selling 690 shares during the period. Geode Capital Management LLC’s holdings in NETGEAR were worth $13,494,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of NETGEAR by 10.5% during the 3rd quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider’s stock worth $870,000 after purchasing an additional 4,125 shares during the period. XTX Topco Ltd purchased a new position in shares of NETGEAR during the 3rd quarter worth about $540,000. Tenzing Global Management LLC purchased a new position in shares of NETGEAR during the 3rd quarter worth about $3,510,000. Quarry LP boosted its stake in shares of NETGEAR by 66.5% during the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of NETGEAR during the 3rd quarter worth about $255,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the sale, the director now directly owns 61,135 shares of the company’s stock, valued at $1,859,726.70. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.00% of the stock is owned by corporate insiders.

NETGEAR Price Performance

NETGEAR stock opened at $27.69 on Tuesday. The stock has a market cap of $796.64 million, a price-to-earnings ratio of 42.60 and a beta of 0.86. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $31.55. The firm has a 50-day moving average of $24.44 and a two-hundred day moving average of $19.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

About NETGEAR

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.