Thrivent Financial for Lutherans Sells 2,338 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Thrivent Financial for Lutherans trimmed its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 3.8% in the 2nd quarter, Holdings Channel reports. The firm owned 59,286 shares of the technology company’s stock after selling 2,338 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NetScout Systems were worth $1,084,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Sei Investments Co. bought a new position in NetScout Systems in the 2nd quarter valued at $966,000. Inspire Investing LLC lifted its holdings in shares of NetScout Systems by 16.7% during the 2nd quarter. Inspire Investing LLC now owns 19,079 shares of the technology company’s stock worth $349,000 after acquiring an additional 2,728 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of NetScout Systems by 0.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 228,505 shares of the technology company’s stock worth $4,179,000 after acquiring an additional 2,000 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of NetScout Systems by 2.6% during the 2nd quarter. Hsbc Holdings PLC now owns 38,342 shares of the technology company’s stock worth $710,000 after acquiring an additional 968 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of NetScout Systems during the 2nd quarter worth $38,000. 91.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of NetScout Systems in a report on Friday, July 26th. StockNews.com downgraded shares of NetScout Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th.

NetScout Systems Stock Performance

NetScout Systems stock opened at $20.56 on Friday. 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 company has a market capitalization of $1.47 billion, a PE ratio of -9.79 and a beta of 0.58. The firm has a fifty day simple moving average of $20.22 and a two-hundred day simple moving average of $19.87. NetScout Systems, Inc. has a twelve month low of $17.10 and a twelve month high of $27.72.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.16. The business had revenue of $174.60 million during the quarter, compared to the consensus estimate of $168.47 million. NetScout Systems had a negative net margin of 74.02% and a positive return on equity of 5.35%. The firm’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. Research analysts expect that NetScout Systems, Inc. will post 1.39 EPS for the current year.

Insiders Place Their Bets

In other NetScout Systems news, COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $18.81, for a total value of $122,265.00. Following the completion of the sale, the chief operating officer now directly owns 43,434 shares of the company’s stock, valued at $816,993.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Michael Szabados sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.81, for a total transaction of $122,265.00. Following the completion of the transaction, the chief operating officer now directly owns 43,434 shares of the company’s stock, valued at approximately $816,993.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Downing sold 4,247 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $84,940.00. Following the transaction, the executive vice president now directly owns 131,590 shares of the company’s stock, valued at approximately $2,631,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,952 shares of company stock valued at $598,411 over the last three months. Insiders own 3.59% of the company’s stock.

NetScout Systems 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.