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

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

Analyst Ratings Changes

Several analysts recently commented on NTCT shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $22.00 target price on shares of NetScout Systems in a report on Friday, July 26th. StockNews.com cut shares of NetScout Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 24th.

NetScout Systems Stock Up 4.9 %

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 $20.24 and a 200-day simple moving average of $19.84. The company has a market cap of $1.50 billion, a PE ratio of -10.03 and a beta of 0.58.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last announced its earnings results on Thursday, July 25th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.16. The firm had revenue of $174.60 million for the quarter, compared to analyst estimates of $168.47 million. NetScout Systems had a positive return on equity of 5.35% and a negative net margin of 74.02%. The business's revenue was down 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. Equities research analysts anticipate that NetScout Systems, Inc. will post 1.39 EPS for the current year.

Insider Activity at NetScout Systems

In other NetScout Systems news, EVP John Downing sold 4,247 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $20.00, for a total transaction of $84,940.00. Following the completion of the transaction, the executive vice president now owns 131,590 shares of the company's stock, valued at $2,631,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NetScout Systems news, insider Jean A. Bua sold 19,205 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $20.37, for a total value of $391,205.85. Following the transaction, the insider now directly owns 78,598 shares of the company's stock, valued at $1,601,041.26. This trade represents a 0.00 % 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 4,247 shares of the business'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 transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,952 shares of company stock valued at $598,411. 3.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new position in shares of NetScout Systems during the 2nd quarter worth approximately $38,000. Innealta Capital LLC purchased a new position in shares of NetScout Systems during the second quarter worth $60,000. Gladius Capital Management LP acquired a new stake in shares of NetScout Systems in the second quarter valued at $69,000. Quest Partners LLC purchased a new stake in shares of NetScout Systems in the 2nd quarter valued at $73,000. Finally, PNC Financial Services Group Inc. lifted its stake in NetScout Systems by 35.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,098 shares of the technology company's stock worth $90,000 after acquiring an additional 1,062 shares in the last quarter. 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.