NetScout Systems (NASDAQ:NTCT) Shares Up 2.5% - Here's What Happened

NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report) shares traded up 2.5% during mid-day trading on Monday . The stock traded as high as $21.97 and last traded at $21.93. 33,887 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 502,385 shares. The stock had previously closed at $21.39.

Analysts Set New Price Targets

NTCT has been the topic of several research reports. StockNews.com upgraded shares of NetScout Systems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, December 10th. Royal Bank of Canada increased their price target 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 Trading Down 0.5 %

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 company has a market cap of $1.56 billion, a P/E ratio of -3.71 and a beta of 0.64. The business has a 50-day moving average price of $22.73 and a two-hundred day moving average price of $21.91.

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 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%. On average, analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Remove Ads

Insiders Place Their Bets

In other NetScout Systems news, 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 transaction of $72,750.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jean A. Bua sold 11,999 shares of the business'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 owns 71,361 shares of the company's stock, valued at $1,706,955.12. The trade was a 14.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,499 shares of company stock valued at $512,321. Company insiders own 3.71% of the company's stock.

Institutional Investors Weigh In On NetScout Systems

Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of NetScout Systems by 1,214.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company's stock valued at $30,000 after buying an additional 1,263 shares during the period. Quarry LP grew its stake in NetScout Systems by 316.8% in the third quarter. Quarry LP now owns 1,513 shares of the technology company's stock valued at $33,000 after acquiring an additional 1,150 shares during the period. FMR LLC grew its stake in NetScout Systems by 32.1% in the third quarter. FMR LLC now owns 1,964 shares of the technology company's stock valued at $43,000 after acquiring an additional 477 shares during the period. Sterling Capital Management LLC increased its holdings in shares of NetScout Systems by 811.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock worth $48,000 after acquiring an additional 1,973 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NetScout Systems during the fourth quarter worth about $71,000. Institutional investors own 91.64% of the company's stock.

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.