NetScout Systems (NASDAQ:NTCT) Stock Price Down 5.6% - Here's Why

NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report)'s share price dropped 5.6% during trading on Thursday . The stock traded as low as $19.50 and last traded at $19.72. Approximately 99,488 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 651,148 shares. The stock had previously closed at $20.90.

Wall Street Analysts Forecast Growth

NTCT has been the subject of several analyst reports. StockNews.com downgraded NetScout Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $22.00 price target on shares of NetScout Systems in a research report on Friday, July 26th.

NetScout Systems Stock Down 2.1 %

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 company has a market capitalization of $1.46 billion, a PE ratio of -9.95 and a beta of 0.58. The stock has a 50-day moving average of $20.75 and a 200 day moving average of $19.85.

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

Insiders Place Their Bets

In other NetScout Systems news, COO Michael Szabados sold 6,500 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total value of $122,265.00. Following the completion of the sale, the chief operating officer now directly owns 43,434 shares of the company's stock, valued at $816,993.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Jean A. Bua sold 19,205 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.37, for a total value of $391,205.85. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Szabados sold 6,500 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total value of $122,265.00. Following the completion of the transaction, the chief operating officer now directly owns 43,434 shares of the company's stock, valued at $816,993.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,952 shares of company stock valued at $598,411 over the last ninety days. 3.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NetScout Systems

Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new position in shares of NetScout Systems in the second quarter worth $38,000. Innealta Capital LLC bought a new stake in NetScout Systems during the second quarter valued at $60,000. Gladius Capital Management LP bought a new stake in NetScout Systems during the second quarter valued at $69,000. Quest Partners LLC bought a new stake in NetScout Systems during the second quarter valued at $73,000. Finally, PNC Financial Services Group Inc. boosted its stake in NetScout Systems by 35.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,098 shares of the technology company's stock valued at $90,000 after buying an additional 1,062 shares during the period. 91.64% of the stock is owned by institutional investors.

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.