Millennium Management LLC Acquires 868,955 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Millennium Management LLC increased its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 375.3% in the second quarter, Holdings Channel.com reports. The fund owned 1,100,485 shares of the technology company’s stock after buying an additional 868,955 shares during the quarter. Millennium Management LLC’s holdings in NetScout Systems were worth $20,128,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NTCT. Vanguard Group Inc. increased its stake in NetScout Systems by 2.5% in the first quarter. Vanguard Group Inc. now owns 9,230,849 shares of the technology company’s stock worth $201,602,000 after purchasing an additional 223,975 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of NetScout Systems by 2.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,275,726 shares of the technology company’s stock worth $23,333,000 after purchasing an additional 35,811 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in NetScout Systems by 74.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 846,435 shares of the technology company’s stock worth $15,481,000 after buying an additional 361,245 shares during the period. Cubist Systematic Strategies LLC bought a new stake in NetScout Systems during the 2nd quarter valued at about $6,015,000. Finally, Acadian Asset Management LLC boosted its position in NetScout Systems by 181.1% in the 2nd quarter. Acadian Asset Management LLC now owns 304,583 shares of the technology company’s stock valued at $5,565,000 after buying an additional 196,218 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NetScout Systems Stock Down 0.0 %

Shares of NetScout Systems stock opened at $20.56 on Friday. NetScout Systems, Inc. has a 1 year low of $17.10 and a 1 year high of $27.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.54 and a quick ratio of 1.50. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -9.79 and a beta of 0.58. The firm’s 50-day moving average is $20.21 and its two-hundred day moving average is $19.87.

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

Insider Activity

In related news, EVP John Downing sold 4,247 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $20.00, for a total transaction of $84,940.00. Following the sale, the executive vice president now owns 131,590 shares of the company’s stock, valued at $2,631,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Michael Szabados sold 6,500 shares of NetScout Systems stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $18.81, for a total value of $122,265.00. Following the transaction, the chief operating officer now owns 43,434 shares of the company’s stock, valued at $816,993.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Downing sold 4,247 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $20.00, for a total transaction of $84,940.00. Following the transaction, the executive vice president now owns 131,590 shares of the company’s stock, valued at approximately $2,631,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,952 shares of company stock worth $598,411. 3.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NTCT shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set 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.