Cutler Group LP Has $65,000 Holdings in NETGEAR, Inc. (NASDAQ:NTGR)

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Cutler Group LP boosted its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 33.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,138 shares of the communications equipment provider’s stock after acquiring an additional 538 shares during the quarter. Cutler Group LP’s holdings in NETGEAR were worth $65,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. boosted its stake in shares of NETGEAR by 60.1% during the second quarter. Jacobs Levy Equity Management Inc. now owns 450,002 shares of the communications equipment provider’s stock valued at $11,651,000 after purchasing an additional 168,988 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in NETGEAR in the second quarter valued at approximately $3,878,000. State Street Corp grew its stake in NETGEAR by 13.4% in the first quarter. State Street Corp now owns 1,115,613 shares of the communications equipment provider’s stock valued at $25,481,000 after acquiring an additional 131,985 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of NETGEAR during the second quarter valued at approximately $2,827,000. Finally, Macquarie Group Ltd. boosted its position in shares of NETGEAR by 8.7% during the second quarter. Macquarie Group Ltd. now owns 1,261,904 shares of the communications equipment provider’s stock valued at $32,671,000 after buying an additional 101,513 shares during the last quarter. 97.89% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Gregory J. Rossman sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $35.00, for a total value of $262,500.00. Following the completion of the transaction, the director now owns 35,749 shares of the company’s stock, valued at approximately $1,251,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laura Durr sold 1,500 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $35.43, for a total value of $53,145.00. Following the completion of the transaction, the director now directly owns 9,521 shares of the company’s stock, valued at approximately $337,329.03. The disclosure for this sale can be found here. Insiders have sold a total of 140,804 shares of company stock valued at $4,635,142 in the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

NTGR has been the topic of several research reports. Zacks Investment Research upgraded NETGEAR from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on NETGEAR from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, October 22nd. Cowen upgraded NETGEAR to a “market perform” rating and upped their target price for the stock from $35.00 to $43.00 in a research note on Thursday, October 22nd. BWS Financial upped their target price on NETGEAR from $33.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, TheStreet upgraded NETGEAR from a “c” rating to a “b” rating in a report on Wednesday, October 21st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $41.00.

NTGR traded down $0.23 during midday trading on Friday, reaching $32.41. 1,216 shares of the company’s stock traded hands, compared to its average volume of 367,331. The firm has a fifty day moving average of $32.10 and a two-hundred day moving average of $28.37. The stock has a market capitalization of $976.07 million, a price-to-earnings ratio of 74.18 and a beta of 1.12. NETGEAR, Inc. has a 52 week low of $15.01 and a 52 week high of $37.40.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, October 21st. The communications equipment provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.80. NETGEAR had a return on equity of 2.29% and a net margin of 1.35%. As a group, equities analysts predict that NETGEAR, Inc. will post 0.73 earnings per share for the current fiscal year.

About NETGEAR

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

Further Reading: Dead Cat Bounce

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Institutional Ownership by Quarter for NETGEAR (NASDAQ:NTGR)

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