Fisher Asset Management LLC lowered its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,101,060 shares of the technology company’s stock after selling 65,383 shares during the period. Fisher Asset Management LLC owned about 3.38% of NetScout Systems worth $106,676,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can raised its position in shares of NetScout Systems by 31.8% in the first quarter. Bank of Montreal Can now owns 3,040 shares of the technology company’s stock valued at $115,000 after buying an additional 734 shares during the last quarter. World Asset Management Inc bought a new position in shares of NetScout Systems during the first quarter worth approximately $213,000. Tudor Investment Corp ET AL bought a new position in shares of NetScout Systems during the first quarter worth approximately $220,000. Credit Agricole S A bought a new position in shares of NetScout Systems during the first quarter worth approximately $246,000. Finally, Capstone Asset Management Co. acquired a new stake in shares of NetScout Systems during the first quarter valued at $247,000.
NetScout Systems, Inc. (NASDAQ:NTCT) traded down 0.88% on Tuesday, hitting $33.75. The stock had a trading volume of 581,788 shares. The company has a 50 day moving average of $34.73 and a 200 day moving average of $35.75. NetScout Systems, Inc. has a 12-month low of $26.25 and a 12-month high of $38.48. The company has a market capitalization of $3.08 billion, a PE ratio of 171.32 and a beta of 1.61.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. The business had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $225.66 million. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The business’s revenue was down 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, equities analysts expect that NetScout Systems, Inc. will post $2.06 earnings per share for the current year.
Several analysts recently weighed in on the company. B. Riley restated a “buy” rating and set a $44.00 target price on shares of NetScout Systems in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded NetScout Systems from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of NetScout Systems in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $39.00.
In other news, COO Michael Szabados sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $34.73, for a total value of $173,650.00. Following the transaction, the chief operating officer now owns 38,257 shares in the company, valued at $1,328,665.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Downing sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $34.60, for a total transaction of $34,600.00. Following the completion of the transaction, the insider now owns 112,215 shares in the company, valued at approximately $3,882,639. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,400 shares of company stock worth $575,002. Insiders own 3.51% of the company’s stock.
NetScout Systems Company Profile
NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.
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