NetScout Systems (NASDAQ:NTCT) Stock Price Up 4.9% – Here’s What Happened

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of NetScout Systems in a research note on Friday, July 26th. StockNews.com lowered shares of NetScout Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 24th.

NetScout Systems Trading Up 5.2 %

The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $20.22 and a 200-day simple moving average of $19.83. The company has a market cap of $1.51 billion, a PE ratio of -10.05 and a beta of 0.58.

NetScout Systems (NASDAQ:NTCT) last posted 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. NetScout Systems had a positive return on equity of 5.35% and a negative net margin of 74.02%. The firm had revenue of $174.60 million for the quarter, compared to the consensus estimate of $168.47 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s quarterly revenue was down 17.3% compared to the same quarter last year. On average, analysts predict that NetScout Systems, Inc. will post 1.39 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in NetScout Systems by 74.5% during 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 last quarter. Vanguard Group Inc. grew its position in shares of NetScout Systems by 2.5% during the first 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 last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of NetScout Systems by 2.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,275,726 shares of the technology company’s stock valued at $23,333,000 after acquiring an additional 35,811 shares during the period. First Eagle Investment Management LLC raised its position in NetScout Systems by 27.1% in the 1st quarter. First Eagle Investment Management LLC now owns 226,505 shares of the technology company’s stock valued at $4,947,000 after purchasing an additional 48,300 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in NetScout Systems in the 2nd quarter valued at $1,702,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.