Creative Planning Sells 4,291 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Creative Planning reduced its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 10.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 34,946 shares of the technology company’s stock after selling 4,291 shares during the period. Creative Planning’s holdings in NetScout Systems were worth $639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in shares of NetScout Systems in the 2nd quarter worth about $38,000. Innealta Capital LLC bought a new position in NetScout Systems during the second quarter valued at approximately $60,000. Gladius Capital Management LP purchased a new position in shares of NetScout Systems during the second quarter worth approximately $69,000. Quest Partners LLC purchased a new position in shares of NetScout Systems during the second quarter worth approximately $73,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of NetScout Systems by 35.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,098 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,062 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NetScout Systems Trading Up 3.2 %

Shares of NTCT opened at $21.71 on Monday. The firm has a fifty day simple moving average of $20.32 and a two-hundred day simple moving average of $19.82. NetScout Systems, Inc. has a twelve month low of $17.10 and a twelve month high of $27.72. The stock has a market capitalization of $1.55 billion, a P/E ratio of -2.63 and a beta of 0.58. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 0.05.

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

Insider Activity at NetScout Systems

In related news, COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.81, for a total transaction of $122,265.00. Following the transaction, the chief operating officer now owns 43,434 shares in the company, valued at $816,993.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total transaction of $122,265.00. Following the completion of the transaction, the chief operating officer now owns 43,434 shares of the company’s stock, valued at $816,993.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Downing sold 4,247 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $20.00, for a total value of $84,940.00. Following the completion of the sale, the executive vice president now directly owns 131,590 shares in the company, valued at $2,631,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,952 shares of company stock worth $598,411 over the last quarter. Corporate insiders own 3.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NTCT. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of NetScout Systems in a research note on Friday, July 26th. StockNews.com lowered NetScout Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th.

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.