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Charles J. Prober, the Chief Executive Officer of NETGEAR , Inc. (NASDAQ:NTGR), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Prober sold 10,929 shares of common stock on February 20, 2025. The shares were sold at a weighted average price of $26.64, totaling approximately $291,148. This transaction comes as NETGEAR’s stock has shown remarkable strength, gaining over 66% in the past six months, according to InvestingPro data.
The transaction was executed under a pre-arranged Rule 10b5-1 trading plan, which Prober adopted on November 20, 2024. This plan was designed to cover anticipated tax liabilities related to the vesting of equity awards. Following the sale, Prober retains ownership of 507,763 shares, which includes 1,649 shares acquired through the company’s Employee Stock Purchase Plan on February 14, 2025. InvestingPro analysis shows NETGEAR maintains strong financial health with a current ratio of 2.81 and more cash than debt on its balance sheet. Discover more insights and 12 additional ProTips in the comprehensive Pro Research Report, available exclusively to subscribers.
In other recent news, NETGEAR Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of -0.06, significantly better than the forecasted -0.32. The company’s revenue for the quarter was $182.4 million, exceeding the expected $174.6 million, although it reflected a year-over-year decline of 3.3%. Despite these positive earnings results, NETGEAR’s stock experienced a decline in aftermarket trading. The company has also launched new Wi-Fi 7 products and expanded its ProAV offerings, indicating a strategic focus on innovation. In terms of analyst activity, no specific upgrades or downgrades were mentioned, but the company is focusing on B2B growth and operational restructuring. NETGEAR has provided revenue guidance for the first quarter of 2025, anticipating figures between $145 million and $160 million, with a focus on double-digit growth in its NETGEAR for Business segment. Additionally, NETGEAR’s strategic plans include reducing its loss position and expanding gross margins throughout 2025.
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