Principal Financial Group Inc. Boosts Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

Principal Financial Group Inc. increased its stake in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 347,650 shares of the technology company's stock after purchasing an additional 11,617 shares during the quarter. Principal Financial Group Inc. owned 0.48% of NetScout Systems worth $7,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTCT. Quarry LP boosted its holdings in NetScout Systems by 316.8% in the third quarter. Quarry LP now owns 1,513 shares of the technology company's stock worth $33,000 after purchasing an additional 1,150 shares during the last quarter. FMR LLC boosted its holdings in NetScout Systems by 32.1% in the third quarter. FMR LLC now owns 1,964 shares of the technology company's stock worth $43,000 after purchasing an additional 477 shares during the last quarter. KBC Group NV boosted its holdings in NetScout Systems by 52.4% in the third quarter. KBC Group NV now owns 3,100 shares of the technology company's stock worth $67,000 after purchasing an additional 1,066 shares during the last quarter. Covestor Ltd boosted its holdings in NetScout Systems by 25.7% in the third quarter. Covestor Ltd now owns 3,606 shares of the technology company's stock worth $78,000 after purchasing an additional 737 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in NetScout Systems by 203.8% in the third quarter. Meeder Asset Management Inc. now owns 6,338 shares of the technology company's stock worth $138,000 after purchasing an additional 4,252 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Remove Ads

Insider Buying and Selling at NetScout Systems

In other NetScout Systems news, COO Michael Szabados sold 6,500 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total transaction of $152,555.00. Following the transaction, the chief operating officer now owns 35,989 shares in the company, valued at approximately $844,661.83. This represents a 15.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,499 shares of company stock valued at $512,321 in the last three months. Company insiders own 3.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com upgraded 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 target price on shares of NetScout Systems from $22.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st.

NetScout Systems Price Performance

NASDAQ NTCT traded up $0.30 on Wednesday, reaching $21.85. The company had a trading volume of 475,041 shares, compared to its average volume of 445,953. 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 has a market capitalization of $1.57 billion, a PE ratio of -3.73 and a beta of 0.60. The firm's 50 day moving average price is $22.85 and its 200 day moving average price is $21.86. NetScout Systems, Inc. has a 12 month low of $17.10 and a 12 month high of $27.89.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, topping 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 predict that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

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.