NetScout Systems, Inc. (NASDAQ:NTCT) EVP John Downing Sells 4,247 Shares

NetScout Systems, Inc. (NASDAQ:NTCT) EVP John Downing sold 4,247 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $20.00, for a total transaction of $84,940.00. Following the completion of the sale, the executive vice president now owns 131,590 shares in the company, valued at $2,631,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NetScout Systems Stock Up 0.7 %

Shares of NTCT stock opened at $19.73 on Monday. NetScout Systems, Inc. has a 12-month low of $17.10 and a 12-month high of $28.94. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $18.75 and a 200-day moving average of $20.11. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -9.40 and a beta of 0.60.

NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, July 25th. The technology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.16. NetScout Systems had a negative net margin of 74.02% and a positive return on equity of 5.35%. The firm had revenue of $174.60 million during the quarter, compared to analyst estimates of $168.47 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was down 17.3% compared to the same quarter last year. As a group, equities research analysts predict that NetScout Systems, Inc. will post 1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on NTCT shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of NetScout Systems in a research note on Friday, July 26th. StockNews.com lowered NetScout Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th.

Institutional Investors Weigh In On NetScout Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of NTCT. First Trust Advisors LP grew its stake in shares of NetScout Systems by 73.0% during the 4th quarter. First Trust Advisors LP now owns 4,429,158 shares of the technology company’s stock worth $97,220,000 after acquiring an additional 1,869,529 shares in the last quarter. Millennium Management LLC grew its position in NetScout Systems by 375.3% in the second quarter. Millennium Management LLC now owns 1,100,485 shares of the technology company’s stock valued at $20,128,000 after purchasing an additional 868,955 shares in the last quarter. Norges Bank acquired a new stake in NetScout Systems in the 4th quarter valued at $10,184,000. Assenagon Asset Management S.A. lifted its position in NetScout Systems by 74.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 846,435 shares of the technology company’s stock worth $15,481,000 after buying an additional 361,245 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of NetScout Systems during the 2nd quarter worth about $6,015,000. Institutional investors and hedge funds 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.