Wealthfront Advisers LLC Takes $2.40 Million Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Wealthfront Advisers LLC acquired a new stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 110,582 shares of the technology company’s stock, valued at approximately $2,395,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its stake in shares of NetScout Systems by 316.8% during 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 in 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. KBC Group NV lifted its position in NetScout Systems by 52.4% during the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock valued at $67,000 after acquiring an additional 1,066 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock valued at $76,000 after acquiring an additional 508 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in NetScout Systems by 203.8% during the third quarter. Meeder Asset Management Inc. now owns 6,338 shares of the technology company’s stock valued at $138,000 after acquiring an additional 4,252 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

NetScout Systems Trading Up 1.3 %

NASDAQ:NTCT opened at $20.73 on Friday. NetScout Systems, Inc. has a 52 week low of $17.10 and a 52 week high of $27.89. The firm has a 50 day moving average of $22.75 and a 200 day moving average of $21.87. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -3.54 and a beta of 0.64.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NetScout Systems news, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the completion of the transaction, the executive vice president now owns 130,352 shares of the company’s stock, valued at approximately $3,161,036. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $23.47, for a total transaction of $152,555.00. Following the completion of the transaction, the chief operating officer now directly owns 35,989 shares of the company’s stock, valued at approximately $844,661.83. This represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,499 shares of company stock valued at $512,321. Insiders own 3.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NTCT shares. Royal Bank of Canada increased their target price on shares of NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

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.