NetScout Systems (NASDAQ:NTCT) Trading Down 0.3% – What’s Next?

NetScout Systems, Inc. (NASDAQ:NTCT)’s share price dropped 0.3% on Thursday . The stock traded as low as $21.32 and last traded at $21.70. Approximately 20,537 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 501,467 shares. The stock had previously closed at $21.77.

Analysts Set New Price Targets

NTCT has been the topic of several research reports. 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 boosted their target price on 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 Stock Performance

The firm’s fifty day simple moving average is $22.72 and its 200 day simple moving average is $21.91. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -3.72 and a beta of 0.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data 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%. On average, sell-side analysts forecast that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Buying and Selling

In other news, COO Michael Szabados sold 6,500 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total value of $152,555.00. Following the transaction, the chief operating officer now directly owns 35,989 shares of the company’s stock, valued at approximately $844,661.83. This represents a 15.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Downing sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the completion of the transaction, the executive vice president now owns 130,352 shares in the company, valued at $3,161,036. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,499 shares of company stock valued at $512,321. Corporate insiders own 3.71% of the company’s stock.

Institutional Investors Weigh In On NetScout Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in NetScout Systems by 12.2% in the fourth quarter. Legal & General Group Plc now owns 4,118,267 shares of the technology company’s stock worth $89,202,000 after buying an additional 448,537 shares during the last quarter. JPMorgan Chase & Co. grew its position in NetScout Systems by 137.7% in the fourth quarter. JPMorgan Chase & Co. now owns 388,286 shares of the technology company’s stock worth $8,410,000 after acquiring an additional 224,925 shares in the last quarter. Norges Bank acquired a new position in shares of NetScout Systems during the 4th quarter worth $4,480,000. Prudential Financial Inc. raised its holdings in shares of NetScout Systems by 102.9% during the 4th quarter. Prudential Financial Inc. now owns 392,566 shares of the technology company’s stock valued at $8,503,000 after purchasing an additional 199,079 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of NetScout Systems by 205.7% in the 4th quarter. LSV Asset Management now owns 257,700 shares of the technology company’s stock valued at $5,582,000 after purchasing an additional 173,400 shares during the last quarter. 91.64% of the stock is 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.