Point72 DIFC Ltd Takes $580,000 Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Point72 DIFC Ltd acquired a new stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,731 shares of the technology company’s stock, valued at approximately $580,000.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of NetScout Systems during the 2nd quarter valued at about $38,000. Parallel Advisors LLC increased its holdings in NetScout Systems by 76.9% during the fourth quarter. Parallel Advisors LLC now owns 1,833 shares of the technology company’s stock valued at $40,000 after buying an additional 797 shares during the period. Innealta Capital LLC acquired a new stake in shares of NetScout Systems during the second quarter worth about $60,000. Gladius Capital Management LP purchased a new position in NetScout Systems during the second quarter valued at approximately $69,000. Finally, Quest Partners LLC acquired a new stake in NetScout Systems in the 2nd quarter worth about $73,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NetScout Systems

In other NetScout Systems news, EVP John Downing sold 4,247 shares of NetScout Systems stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $20.00, for a total value of $84,940.00. Following the transaction, the executive vice president now owns 131,590 shares of the company’s stock, valued at $2,631,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP John Downing sold 4,247 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $20.00, for a total value of $84,940.00. Following the completion of the transaction, the executive vice president now owns 131,590 shares of the company’s stock, valued at $2,631,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jean A. Bua sold 19,205 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $20.37, for a total value of $391,205.85. Following the completion of the transaction, the insider now owns 78,598 shares of the company’s stock, valued at $1,601,041.26. The disclosure for this sale can be found here. Insiders have sold a total of 29,952 shares of company stock valued at $598,411 over the last three months. 3.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on NTCT. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of NetScout Systems in a research report on Friday, July 26th. StockNews.com cut shares of NetScout Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th.

NetScout Systems Trading Down 3.2 %

NASDAQ:NTCT opened at $20.88 on Thursday. The stock’s 50-day moving average is $19.91 and its two-hundred day moving average is $19.95. NetScout Systems, Inc. has a fifty-two week low of $17.10 and a fifty-two week high of $28.58. The stock has a market cap of $1.49 billion, a PE ratio of -9.94 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.54 and a quick ratio of 1.50.

NetScout Systems (NASDAQ:NTCT) last posted its earnings results on Thursday, July 25th. The technology company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.16. The business had revenue of $174.60 million for the quarter, compared to analysts’ expectations of $168.47 million. NetScout Systems had a negative net margin of 74.02% and a positive return on equity of 5.35%. The firm’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, equities research analysts forecast that NetScout Systems, Inc. will post 1.39 earnings per share for the current fiscal year.

NetScout Systems 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.