NetScout Systems (NASDAQ:NTCT) Shares Down 1% – Here’s Why

NetScout Systems, Inc. (NASDAQ:NTCT) shares were down 1% during mid-day trading on Friday . The stock traded as low as $21.07 and last traded at $21.23. Approximately 141,018 shares were traded during trading, a decline of 72% from the average daily volume of 498,019 shares. The stock had previously closed at $21.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NTCT shares. StockNews.com upgraded shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada upped their price objective on shares of NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, January 31st.

NetScout Systems Trading Down 0.2 %

The company’s fifty day moving average price is $22.72 and its 200-day moving average price is $21.88. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -3.65 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.

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, research analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

Insider Activity at NetScout Systems

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

Institutional Investors Weigh In On NetScout Systems

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position in NetScout Systems by 1,214.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,263 shares in the last quarter. Quarry LP boosted its position 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 purchasing an additional 1,150 shares in the last quarter. FMR LLC boosted its position in NetScout Systems by 32.1% in the 3rd quarter. FMR LLC now owns 1,964 shares of the technology company’s stock worth $43,000 after purchasing an additional 477 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of NetScout Systems by 811.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock valued at $48,000 after buying an additional 1,973 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of NetScout Systems by 52.4% during the 3rd quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock valued at $67,000 after buying an additional 1,066 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.