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

NetScout Systems, Inc. (NASDAQ:NTCT) was down 1% during trading on Friday . The stock traded as low as $21.07 and last traded at $21.23. Approximately 141,018 shares traded hands during trading, a decline of 72% from the average daily volume of 498,019 shares. The stock had previously closed at $21.44.

Analyst Upgrades and Downgrades

Several research analysts have commented on NTCT shares. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their price objective on shares of 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 market capitalization of $1.53 billion, a PE ratio of -3.65 and a beta of 0.64. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $22.72 and its 200-day moving average price is $21.88.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts forecast that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Activity

In related news, COO Michael Szabados sold 6,500 shares of the company’s 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 sale, the chief operating officer now directly owns 35,989 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Downing sold 3,000 shares of the company’s stock in a transaction dated 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 approximately $3,161,036. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,499 shares of company stock valued at $512,321. 3.71% of the stock is currently owned by company insiders.

Institutional Trading of NetScout Systems

A number of hedge funds have recently added to or reduced their stakes in NTCT. Legal & General Group Plc raised 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 purchasing an additional 448,537 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 224,925 shares in the last quarter. Norges Bank bought a new position in NetScout Systems in the fourth quarter worth about $4,480,000. Prudential Financial Inc. raised its holdings in NetScout Systems by 102.9% in the fourth quarter. Prudential Financial Inc. now owns 392,566 shares of the technology company’s stock worth $8,503,000 after purchasing an additional 199,079 shares in the last quarter. Finally, LSV Asset Management raised its holdings in NetScout Systems by 205.7% in the fourth quarter. LSV Asset Management now owns 257,700 shares of the technology company’s stock worth $5,582,000 after purchasing an additional 173,400 shares in 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.