The Manufacturers Life Insurance Company Boosts Stock Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

The Manufacturers Life Insurance Company increased its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,731 shares of the technology company’s stock after purchasing an additional 1,084 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NetScout Systems were worth $635,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Millennium Management LLC grew its position in NetScout Systems by 375.3% during the second quarter. Millennium Management LLC now owns 1,100,485 shares of the technology company’s stock valued at $20,128,000 after buying an additional 868,955 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in NetScout Systems by 2.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,275,726 shares of the technology company’s stock worth $23,333,000 after buying an additional 35,811 shares during the period. AXA S.A. grew its stake in NetScout Systems by 457.0% in the 2nd quarter. AXA S.A. now owns 125,778 shares of the technology company’s stock valued at $2,300,000 after buying an additional 103,197 shares in the last quarter. Caxton Associates LP boosted its holdings in shares of NetScout Systems by 54.6% in the second quarter. Caxton Associates LP now owns 33,831 shares of the technology company’s stock worth $619,000 after acquiring an additional 11,954 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NetScout Systems in the second quarter valued at $275,000. Institutional investors own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

NTCT has been the subject of several analyst reports. StockNews.com downgraded NetScout Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of NetScout Systems in a report on Friday, July 26th.

Insider Transactions at NetScout Systems

In other news, insider Jean A. Bua sold 19,205 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $20.37, for a total value of $391,205.85. Following the transaction, the insider now owns 78,598 shares in the company, valued at approximately $1,601,041.26. This trade represents a 0.00 % 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 hyperlink. In related news, insider Jean A. Bua sold 19,205 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.37, for a total value of $391,205.85. Following the sale, the insider now directly owns 78,598 shares of the company’s stock, valued at $1,601,041.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Downing sold 4,247 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $20.00, for a total transaction of $84,940.00. Following the sale, the executive vice president now owns 131,590 shares in the company, valued at approximately $2,631,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,952 shares of company stock worth $598,411. Company insiders own 3.59% of the company’s stock.

NetScout Systems Price Performance

NTCT stock opened at $21.55 on Wednesday. The company’s 50 day moving average is $20.45 and its 200 day moving average is $19.82. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -10.26 and a beta of 0.58. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 0.05. NetScout Systems, Inc. has a 1-year low of $17.10 and a 1-year high of $27.72.

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

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.