NetScout Systems (NASDAQ:NTCT) Trading Down 2.3% - Here's What Happened

NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report)'s stock price dropped 2.3% during trading on Friday . The stock traded as low as $21.31 and last traded at $21.24. Approximately 20,702 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 501,526 shares. The stock had previously closed at $21.74.

Wall Street Analysts Forecast Growth

NTCT has been the subject of a number of recent analyst reports. StockNews.com raised NetScout Systems from a "buy" rating to a "strong-buy" rating in a report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on NetScout Systems from $22.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st.

NetScout Systems Trading Down 0.9 %

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 $1.51 billion, a PE ratio of -3.59 and a beta of 0.64. The business's 50-day moving average is $22.69 and its two-hundred day moving average is $21.96.

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

Insider Activity

In related news, COO Michael Szabados sold 6,500 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $23.47, for a total value of $152,555.00. Following the transaction, the chief operating officer now owns 35,989 shares in the company, valued at $844,661.83. The trade was a 15.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John Downing sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $24.25, for a total value of $72,750.00. Following the sale, the executive vice president now directly owns 130,352 shares of the company's stock, 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

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in NetScout Systems by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 9,353,501 shares of the technology company's stock worth $202,597,000 after purchasing an additional 64,475 shares in the last quarter. Legal & General Group Plc raised its stake in shares of NetScout Systems by 12.2% during the 4th quarter. Legal & General Group Plc now owns 4,118,267 shares of the technology company's stock worth $89,202,000 after buying an additional 448,537 shares in the last quarter. State Street Corp lifted its holdings in shares of NetScout Systems by 3.7% in the 3rd quarter. State Street Corp now owns 3,098,279 shares of the technology company's stock valued at $67,388,000 after buying an additional 109,569 shares during the period. Geode Capital Management LLC boosted its stake in shares of NetScout Systems by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,959,996 shares of the technology company's stock valued at $42,463,000 after buying an additional 30,445 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in NetScout Systems by 4.6% during the fourth quarter. First Trust Advisors LP now owns 1,432,901 shares of the technology company's stock worth $31,037,000 after acquiring an additional 62,603 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

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.