NetScout Systems (NASDAQ:NTCT) Trading Down 0.8% – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT) shares were down 0.8% during mid-day trading on Friday . The stock traded as low as $21.18 and last traded at $21.31. Approximately 41,873 shares traded hands during trading, a decline of 90% from the average daily volume of 435,329 shares. The stock had previously closed at $21.48.

Wall Street Analyst Weigh In

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

NetScout Systems Stock Down 0.2 %

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -3.66 and a beta of 0.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78. The business has a fifty day moving average price of $22.84 and a two-hundred day moving average price of $21.88.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts expect that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

Insider Activity at NetScout Systems

In other NetScout Systems news, insider Jean A. Bua sold 11,999 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $23.92, for a total value of $287,016.08. Following the completion of the transaction, the insider now directly owns 71,361 shares of the company’s stock, valued at approximately $1,706,955.12. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Downing sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total transaction of $72,750.00. Following the sale, the executive vice president now directly owns 130,352 shares in the company, valued at $3,161,036. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,499 shares of company stock worth $512,321 over the last three months. Company insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On NetScout Systems

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in shares of NetScout Systems by 1,214.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,263 shares during the last quarter. Quarry LP lifted its holdings in NetScout Systems by 316.8% in the 3rd 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 lifted its holdings in 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 purchasing an additional 477 shares in the last quarter. Sterling Capital Management LLC boosted its stake in NetScout Systems by 811.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,973 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of NetScout Systems by 52.4% during the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after buying an additional 1,066 shares in the last quarter. 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.