Cubist Systematic Strategies LLC Sells 43,779 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

Cubist Systematic Strategies LLC decreased its holdings in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 86.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,587 shares of the communications equipment provider’s stock after selling 43,779 shares during the period. Cubist Systematic Strategies LLC’s holdings in NETGEAR were worth $101,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of NETGEAR during the 1st quarter worth about $30,000. Allspring Global Investments Holdings LLC increased its stake in NETGEAR by 229.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 6,921 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in NETGEAR in the first quarter valued at approximately $176,000. Quadrature Capital Ltd raised its holdings in NETGEAR by 53.1% in the fourth quarter. Quadrature Capital Ltd now owns 27,482 shares of the communications equipment provider’s stock worth $401,000 after purchasing an additional 9,527 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of NETGEAR during the second quarter worth $446,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at NETGEAR

In other news, Director Thomas H. Waechter sold 2,500 shares of the 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 in the company, valued at $1,306,360. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.00% of the company’s stock.

NETGEAR Price Performance

NTGR stock opened at $21.08 on Wednesday. The stock has a market capitalization of $613.43 million, a P/E ratio of -5.48 and a beta of 0.83. NETGEAR, Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $22.62. The business has a 50-day moving average of $17.99 and a 200-day moving average of $15.63.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting the consensus estimate of ($0.94). The company had revenue of $143.90 million during the quarter, compared to analysts’ expectations of $132.69 million. NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. Equities analysts expect that NETGEAR, Inc. will post -2.11 EPS for the current year.

Wall Street Analyst Weigh In

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

NETGEAR Company 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.