BNP Paribas Financial Markets Sells 40,686 Shares of NETGEAR, Inc. (NASDAQ:NTGR)

BNP Paribas Financial Markets reduced its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 84.0% in the 3rd quarter, Holdings Channel reports. The fund owned 7,744 shares of the communications equipment provider’s stock after selling 40,686 shares during the quarter. BNP Paribas Financial Markets’ holdings in NETGEAR were worth $155,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

NETGEAR Stock Performance

Shares of NETGEAR stock opened at $25.68 on Wednesday. The firm has a market cap of $738.81 million, a PE ratio of 39.51 and a beta of 0.86. The business’s 50 day simple moving average is $23.22 and its 200 day simple moving average is $18.72. NETGEAR, Inc. has a 52-week low of $10.48 and a 52-week high of $26.07.

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.