Mirae Asset Global Investments Co. Ltd. Lowers Stock Position in NETGEAR, Inc. (NASDAQ:NTGR)

Posted by Defense World Staff on May 30th, 2023

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR – Get Rating) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,370 shares of the communications equipment provider’s stock after selling 3,052 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.24% of NETGEAR worth $1,238,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ronald Blue Trust Inc. lifted its position in shares of NETGEAR by 141.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,862 shares of the communications equipment provider’s stock valued at $37,000 after buying an additional 1,092 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in NETGEAR by 54.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 837 shares during the period. Lazard Asset Management LLC bought a new stake in NETGEAR during the 1st quarter valued at approximately $66,000. Captrust Financial Advisors raised its stake in NETGEAR by 20.1% during the 1st quarter. Captrust Financial Advisors now owns 3,082 shares of the communications equipment provider’s stock valued at $76,000 after purchasing an additional 515 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in NETGEAR by 27.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,547 shares of the communications equipment provider’s stock valued at $64,000 after purchasing an additional 764 shares during the period. 85.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Michael A. Werdann sold 6,229 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $13.74, for a total transaction of $85,586.46. Following the transaction, the senior vice president now owns 58,417 shares of the company’s stock, valued at approximately $802,649.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael A. Werdann sold 6,229 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $13.74, for a total transaction of $85,586.46. Following the transaction, the senior vice president now owns 58,417 shares of the company’s stock, valued at approximately $802,649.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Heidi Cormack sold 4,688 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $13.97, for a total value of $65,491.36. Following the transaction, the senior vice president now directly owns 66,109 shares in the company, valued at approximately $923,542.73. The disclosure for this sale can be found here. Insiders have sold a total of 13,624 shares of company stock valued at $188,326 in the last quarter. 5.10% of the stock is currently owned by insiders.

NETGEAR Price Performance

NASDAQ:NTGR opened at $13.95 on Tuesday. NETGEAR, Inc. has a 1 year low of $13.30 and a 1 year high of $26.79. The stock’s 50 day simple moving average is $16.04 and its two-hundred day simple moving average is $18.02. The company has a market cap of $405.39 million, a price-to-earnings ratio of -18.85 and a beta of 0.88.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on NETGEAR in a research note on Thursday, May 18th. They set a “hold” rating on the stock.

About NETGEAR

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NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following segments: Connected Home, and Small & Medium Business. The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use WiFi Internet networking solutions such as WiFi mesh systems, routers, 4G/5G mobile products, smart devices such as Meural digital canvasses, and services offering consumers a range of parental controls and cyber security for their home networks.