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

NetScout Systems, Inc. (NASDAQ:NTCT)’s stock price was down 1% on Thursday . The company traded as low as $20.74 and last traded at $20.72. Approximately 44,395 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 532,768 shares. The stock had previously closed at $20.93.

Analysts Set New Price Targets

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

NetScout Systems Price Performance

The stock has a market capitalization of $1.46 billion, a P/E ratio of -3.48 and a beta of 0.64. 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 stock has a 50-day simple moving average of $22.80 and a 200 day simple moving average of $21.88.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts forecast that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Activity at NetScout Systems

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

Hedge Funds Weigh In On NetScout Systems

Several institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in NetScout Systems by 32.1% in the third quarter. FMR LLC now owns 1,964 shares of the technology company’s stock worth $43,000 after purchasing an additional 477 shares during the period. PNC Financial Services Group Inc. lifted its holdings in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after acquiring an additional 508 shares in the last quarter. Natixis Advisors LLC grew its stake in NetScout Systems by 2.2% in the third quarter. Natixis Advisors LLC now owns 28,296 shares of the technology company’s stock valued at $615,000 after acquiring an additional 606 shares during the period. Mariner LLC increased its holdings in shares of NetScout Systems by 5.4% in the fourth quarter. Mariner LLC now owns 13,307 shares of the technology company’s stock worth $288,000 after acquiring an additional 681 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of NetScout Systems by 25.7% during the third quarter. Covestor Ltd now owns 3,606 shares of the technology company’s stock worth $78,000 after purchasing an additional 737 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.