NetScout Systems (NASDAQ:NTCT) Trading Down 1.8% - Here's Why

NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report)'s share price dropped 1.8% on Tuesday . The stock traded as low as $21.33 and last traded at $21.30. Approximately 52,470 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 436,149 shares. The stock had previously closed at $21.70.

Wall Street Analyst Weigh In

NTCT has been the topic of several recent research reports. StockNews.com upgraded NetScout Systems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their target price on 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 0.2 %

The firm has a 50 day simple moving average of $22.84 and a 200 day simple moving average of $21.86. The company has a current ratio of 1.81, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.54 billion, a PE ratio of -3.66 and a beta of 0.64.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 EPS for the quarter, beating 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%. Equities analysts expect that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

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Insider Activity

In other news, COO Michael Szabados sold 6,500 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $23.47, for a total transaction of $152,555.00. Following the transaction, the chief operating officer now directly owns 35,989 shares of the company's stock, valued at $844,661.83. This represents a 15.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Downing sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the transaction, the executive vice president now directly owns 130,352 shares in the company, valued at $3,161,036. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,499 shares of company stock valued at $512,321 in the last ninety days. 3.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NetScout Systems

Several hedge funds and other institutional investors have recently modified their holdings of NTCT. Robeco Institutional Asset Management B.V. raised its holdings in NetScout Systems by 71.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 305,454 shares of the technology company's stock worth $6,644,000 after purchasing an additional 127,200 shares during the period. Covestor Ltd raised its holdings in NetScout Systems by 25.7% in the 3rd 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 period. Versor Investments LP bought a new position in NetScout Systems in the 3rd quarter worth $447,000. KBC Group NV raised its holdings in NetScout Systems by 52.4% in the 3rd 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 period. Finally, Impax Asset Management Group plc raised its holdings in NetScout Systems by 32.0% in the 3rd quarter. Impax Asset Management Group plc now owns 495,000 shares of the technology company's stock worth $10,766,000 after purchasing an additional 120,000 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.