NetScout Systems (NASDAQ:NTCT) Shares Up 0.4% – Here’s Why

NetScout Systems, Inc. (NASDAQ:NTCT)’s share price was up 0.4% during mid-day trading on Wednesday . The stock traded as high as $21.95 and last traded at $21.83. Approximately 21,652 shares were traded during trading, a decline of 96% from the average daily volume of 501,626 shares. The stock had previously closed at $21.74.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NTCT shares. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada boosted 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 note on Friday, January 31st.

NetScout Systems Stock Down 2.4 %

The firm has a market capitalization of $1.52 billion, a PE ratio of -3.62 and a beta of 0.64. The stock has a 50-day simple moving average of $22.71 and a 200-day simple moving average of $21.91. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. Analysts forecast that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Buying and Selling

In other news, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 35,989 shares in the company, valued at approximately $844,661.83. This trade represents a 15.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean A. Bua sold 11,999 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $23.92, for a total transaction of $287,016.08. Following the transaction, the insider now directly owns 71,361 shares of the company’s stock, valued at approximately $1,706,955.12. This represents a 14.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,499 shares of company stock valued at $512,321. Company insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NTCT. Russell Investments Group Ltd. raised its position in shares of NetScout Systems by 1,214.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock worth $30,000 after buying an additional 1,263 shares in the last quarter. Quarry LP increased its stake in NetScout Systems by 316.8% in the 3rd quarter. Quarry LP now owns 1,513 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,150 shares during the last quarter. FMR LLC raised its holdings in shares of NetScout Systems by 32.1% in the 3rd quarter. FMR LLC now owns 1,964 shares of the technology company’s stock valued at $43,000 after acquiring an additional 477 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of NetScout Systems by 811.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock valued at $48,000 after acquiring an additional 1,973 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NetScout Systems during the 4th quarter valued at about $71,000. 91.64% of the stock is owned by institutional investors.

About NetScout Systems

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.