Bank of New York Mellon Corp Sells 19,618 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Bank of New York Mellon Corp lessened its stake in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 529,999 shares of the technology company's stock after selling 19,618 shares during the period. Bank of New York Mellon Corp owned about 0.74% of NetScout Systems worth $11,480,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Covestor Ltd boosted its stake in NetScout Systems by 25.7% in the 3rd quarter. Covestor Ltd now owns 3,606 shares of the technology company's stock valued at $78,000 after buying an additional 737 shares in the last quarter. Versor Investments LP acquired a new position in shares of NetScout Systems during the third quarter worth approximately $447,000. KBC Group NV increased its holdings in shares of NetScout Systems by 52.4% in the third quarter. KBC Group NV now owns 3,100 shares of the technology company's stock valued at $67,000 after purchasing an additional 1,066 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of NetScout Systems by 32.0% during the third quarter. Impax Asset Management Group plc now owns 495,000 shares of the technology company's stock worth $10,766,000 after acquiring an additional 120,000 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in NetScout Systems by 2.2% during the 3rd quarter. Natixis Advisors LLC now owns 28,296 shares of the technology company's stock valued at $615,000 after purchasing an additional 606 shares during the period. Institutional investors own 91.64% of the company's stock.

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Insider Buying and Selling

In related news, EVP John Downing sold 3,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 130,352 shares of the company's stock, valued at approximately $3,161,036. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean A. Bua sold 11,999 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $23.92, for a total transaction of $287,016.08. Following the completion of the transaction, the insider now owns 71,361 shares in the company, valued at approximately $1,706,955.12. This represents a 14.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,499 shares of company stock worth $512,321. Company insiders own 3.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NTCT. StockNews.com raised 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 NetScout Systems from $22.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, January 31st.

NetScout Systems Stock Up 1.3 %

NASDAQ NTCT traded up $0.26 during trading on Friday, hitting $20.73. The stock had a trading volume of 442,653 shares, compared to its average volume of 530,020. NetScout Systems, Inc. has a 12 month low of $17.10 and a 12 month high of $27.89. The company's 50-day moving average price is $22.75 and its two-hundred day moving average price is $21.87. The company 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 quick ratio of 1.78 and a current ratio of 1.81.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, sell-side analysts forecast that NetScout Systems, Inc. will post 1.5 EPS for the current year.

NetScout Systems Company Profile

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.