NetScout Systems (NASDAQ:NTCT) Shares Up 1.6% – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT)’s stock price shot up 1.6% during mid-day trading on Friday . The stock traded as high as $20.87 and last traded at $20.79. 51,737 shares were traded during mid-day trading, a decline of 90% from the average session volume of 530,433 shares. The stock had previously closed at $20.47.

Analysts Set New Price Targets

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

NetScout Systems Price Performance

The company has a 50-day moving average of $22.80 and a two-hundred day moving average of $21.88. The stock has a market capitalization of $1.49 billion, a PE ratio of -3.54 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 released its 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 positive return on equity of 6.76% and a negative net margin of 50.90%. Sell-side analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

Insider Transactions at NetScout Systems

In other news, insider Jean A. Bua sold 11,999 shares of the firm’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 transaction, the insider now directly owns 71,361 shares in the company, valued at $1,706,955.12. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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 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. Insiders have sold a total of 21,499 shares of company stock worth $512,321 in the last three months. 3.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NetScout Systems

Several hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in shares of NetScout Systems by 89.1% during the 4th quarter. Mackenzie Financial Corp now owns 121,495 shares of the technology company’s stock valued at $2,632,000 after buying an additional 57,239 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NetScout Systems by 7.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,172 shares of the technology company’s stock valued at $4,292,000 after buying an additional 13,970 shares during the period. Vident Advisory LLC raised its holdings in shares of NetScout Systems by 4.4% during the 4th quarter. Vident Advisory LLC now owns 23,030 shares of the technology company’s stock valued at $499,000 after buying an additional 970 shares during the period. Squarepoint Ops LLC raised its holdings in shares of NetScout Systems by 535.5% during the 4th quarter. Squarepoint Ops LLC now owns 136,059 shares of the technology company’s stock valued at $2,947,000 after buying an additional 114,648 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of NetScout Systems by 4.4% during the 4th quarter. Tidal Investments LLC now owns 30,514 shares of the technology company’s stock valued at $661,000 after buying an additional 1,294 shares during the period. 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.