NetScout Systems (NASDAQ:NTCT) Trading Up 2.5% – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT)’s share price rose 2.5% on Monday . The company traded as high as $21.97 and last traded at $21.93. Approximately 33,887 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 502,385 shares. The stock had previously closed at $21.39.

Analysts Set New Price Targets

NTCT has been the topic of several analyst reports. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada increased their price target on NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st.

NetScout Systems Price Performance

The company’s 50-day simple moving average is $22.73 and its 200-day simple moving average is $21.91. The stock has a market capitalization of $1.56 billion, a P/E ratio of -3.71 and a beta of 0.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. As a group, sell-side analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at NetScout Systems

In other news, insider Jean A. Bua sold 11,999 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $23.92, for a total transaction of $287,016.08. Following the transaction, the insider now owns 71,361 shares in the company, valued at approximately $1,706,955.12. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total value of $152,555.00. Following the completion of the sale, the chief operating officer now owns 35,989 shares of the company’s stock, valued at $844,661.83. This trade represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,499 shares of company stock valued at $512,321 in the last quarter. 3.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NetScout Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of NetScout Systems by 1,214.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,263 shares during the period. Quarry LP raised its position in NetScout Systems by 316.8% in the third quarter. Quarry LP now owns 1,513 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,150 shares during the last quarter. FMR LLC boosted its stake in shares of NetScout Systems by 32.1% during the third quarter. FMR LLC now owns 1,964 shares of the technology company’s stock valued at $43,000 after purchasing an additional 477 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of NetScout Systems by 811.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,973 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NetScout Systems during the fourth quarter worth about $71,000. Institutional investors own 91.64% of the company’s stock.

NetScout Systems Company Profile

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.