NETGEAR, Inc. (NASDAQ:NTGR) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 13.5% during the third quarter, Holdings Channel reports. The fund owned 3,316 shares of the communications equipment provider’s stock after selling 517 shares during the quarter. US Bancorp DE’s holdings in NETGEAR were worth $67,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new position in NETGEAR in the 3rd quarter valued at about $144,000. Allspring Global Investments Holdings LLC lifted its stake in shares of NETGEAR by 229.2% during 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 buying an additional 6,921 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of NETGEAR during the first quarter valued at approximately $176,000. Creative Planning acquired a new stake in NETGEAR during the third quarter worth approximately $235,000. Finally, Inspire Advisors LLC purchased a new stake in NETGEAR in the 3rd quarter worth approximately $387,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

NASDAQ:NTGR opened at $24.15 on Monday. The company has a market cap of $694.80 million, a P/E ratio of 37.15 and a beta of 0.83. The firm’s 50 day moving average is $20.98 and its two-hundred day moving average is $16.83. NETGEAR, Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $25.06.

Wall Street Analyst Weigh In

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

Insider Activity at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 65,318 shares in the company, valued at $1,306,360. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

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.