Algert Global LLC Reduces Stake in NETGEAR, Inc. (NASDAQ:NTGR)

Algert Global LLC lowered its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 35.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,685 shares of the communications equipment provider’s stock after selling 60,180 shares during the period. Algert Global LLC owned 0.38% of NETGEAR worth $2,200,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in NETGEAR by 10.6% in the second quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock worth $4,024,000 after buying an additional 25,200 shares during the last quarter. Federated Hermes Inc. increased its holdings in NETGEAR by 125.0% in the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after acquiring an additional 71,054 shares during the last quarter. Brandes Investment Partners LP increased its holdings in NETGEAR by 6.8% in the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after acquiring an additional 247,162 shares during the last quarter. Empowered Funds LLC raised its stake in NETGEAR by 23.2% in the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock valued at $2,848,000 after acquiring an additional 26,756 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in NETGEAR during the third quarter valued at about $1,805,000. Institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

NASDAQ:NTGR opened at $25.07 on Wednesday. NETGEAR, Inc. has a 1 year low of $10.48 and a 1 year high of $25.20. The stock’s fifty day moving average price is $21.73 and its two-hundred day moving average price is $17.46. The company has a market cap of $721.26 million, a P/E ratio of 38.57 and a beta of 0.83.

Insider Activity at NETGEAR

In related 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 transaction, the director now owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.