NetScout Systems (NASDAQ:NTCT) Shares Up 4.9% – Still a Buy?

NetScout Systems, Inc. (NASDAQ:NTCT) shares rose 4.9% on Wednesday . The company traded as high as $21.07 and last traded at $21.07. Approximately 48,675 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 663,288 shares. The stock had previously closed at $20.09.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com cut NetScout Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of NetScout Systems in a report on Friday, July 26th.

NetScout Systems Stock Performance

The stock’s 50-day moving average price is $20.22 and its 200-day moving average price is $19.83. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -10.05 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.50 and a current ratio of 1.54.

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, topping the consensus estimate of $0.12 by $0.16. The firm had revenue of $174.60 million during the quarter, compared to analysts’ expectations of $168.47 million. NetScout Systems had a positive return on equity of 5.35% and a negative net margin of 74.02%. NetScout Systems’s revenue was down 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, equities research analysts expect that NetScout Systems, Inc. will post 1.39 earnings per share for the current year.

Insider Buying and Selling at NetScout Systems

In other news, 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 transaction, the executive vice president now directly owns 131,590 shares of the company’s stock, valued at $2,631,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NetScout Systems news, insider Jean A. Bua sold 19,205 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.37, for a total transaction of $391,205.85. Following the transaction, the insider now owns 78,598 shares of the company’s stock, valued at $1,601,041.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John Downing sold 4,247 shares of NetScout Systems 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 sale, the executive vice president now directly owns 131,590 shares of the company’s stock, valued at approximately $2,631,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,952 shares of company stock worth $598,411. 3.59% of the stock is owned by insiders.

Institutional Trading of NetScout Systems

A number of hedge funds have recently added to or reduced their stakes in NTCT. Vanguard Group Inc. lifted its holdings in shares of NetScout Systems by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 9,230,849 shares of the technology company’s stock worth $201,602,000 after acquiring an additional 223,975 shares during the period. D. E. Shaw & Co. Inc. increased its position in NetScout Systems by 2.9% during 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. Millennium Management LLC increased its position in NetScout Systems by 375.3% during the second quarter. Millennium Management LLC now owns 1,100,485 shares of the technology company’s stock worth $20,128,000 after purchasing an additional 868,955 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in NetScout Systems by 74.5% during the second quarter. Assenagon Asset Management S.A. now owns 846,435 shares of the technology company’s stock worth $15,481,000 after purchasing an additional 361,245 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of NetScout Systems in the 2nd quarter valued at $6,015,000. 91.64% of the stock is owned by institutional investors and hedge funds.

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.