NetScout Systems (NASDAQ:NTCT) Trading 0.2% Higher – Here’s What Happened

Shares of NetScout Systems, Inc. (NASDAQ:NTCT) rose 0.2% during mid-day trading on Thursday . The company traded as high as $21.60 and last traded at $21.66. Approximately 42,999 shares traded hands during trading, a decline of 91% from the average daily volume of 501,574 shares. The stock had previously closed at $21.62.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada boosted their price target on NetScout Systems from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st.

NetScout Systems Price Performance

The stock has a 50 day moving average of $22.73 and a 200-day moving average of $21.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.81. The company has a market cap of $1.55 billion, a PE ratio of -3.68 and a beta of 0.64.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. Equities analysts predict that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

Insider Buying and Selling at NetScout Systems

In other news, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $23.47, for a total transaction of $152,555.00. Following the sale, the chief operating officer now directly owns 35,989 shares in the company, valued at $844,661.83. This trade represents a 15.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean A. Bua sold 11,999 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $23.92, for a total value of $287,016.08. Following the completion of the transaction, the insider now directly owns 71,361 shares of the company’s stock, valued at $1,706,955.12. The trade was a 14.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,499 shares of company stock worth $512,321. Insiders own 3.71% of the company’s stock.

Institutional Trading of NetScout Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV increased its holdings in NetScout Systems by 52.4% in the 3rd quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,066 shares in the last quarter. Natixis Advisors LLC increased its holdings in NetScout Systems by 2.2% in the 3rd quarter. Natixis Advisors LLC now owns 28,296 shares of the technology company’s stock worth $615,000 after acquiring an additional 606 shares in the last quarter. Quest Partners LLC increased its holdings in NetScout Systems by 91.0% in the 3rd quarter. Quest Partners LLC now owns 7,613 shares of the technology company’s stock worth $166,000 after acquiring an additional 3,627 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in NetScout Systems by 203.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,338 shares of the technology company’s stock worth $138,000 after acquiring an additional 4,252 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in NetScout Systems by 66.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 446,387 shares of the technology company’s stock worth $9,709,000 after acquiring an additional 178,269 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.