NetScout Systems (NASDAQ:NTCT) Stock Price Up 0.4% - Here's Why

NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report)'s stock price shot up 0.4% on Wednesday . The stock traded as high as $21.95 and last traded at $21.83. Approximately 21,652 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 501,626 shares. The stock had previously closed at $21.74.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NTCT. 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 boosted their price objective on shares of NetScout Systems from $22.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st.

NetScout Systems Trading Down 2.4 %

The stock has a 50-day moving average price of $22.69 and a two-hundred day moving average price of $21.92. The stock has a market capitalization of $1.52 billion, a PE ratio of -3.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.81.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last posted its quarterly 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 forecast that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

Insider Activity

In other news, 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 transaction of $72,750.00. Following the completion of the transaction, the executive vice president now directly owns 130,352 shares in the company, valued at approximately $3,161,036. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean A. Bua sold 11,999 shares of the business's stock in a transaction on Thursday, February 13th. The stock was 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 owns 71,361 shares in the company, valued at $1,706,955.12. This represents a 14.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,499 shares of company stock worth $512,321 over the last quarter. Insiders own 3.71% of the company's stock.

Hedge Funds Weigh In On NetScout Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of NetScout Systems by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,929,551 shares of the technology company's stock valued at $41,975,000 after acquiring an additional 81,154 shares during the last quarter. Victory Capital Management Inc. lifted its position in NetScout Systems by 55.0% in the fourth quarter. Victory Capital Management Inc. now owns 80,507 shares of the technology company's stock worth $1,744,000 after buying an additional 28,583 shares during the last quarter. Weiss Asset Management LP purchased a new position in NetScout Systems during the third quarter worth $1,783,000. Citigroup Inc. increased its position in NetScout Systems by 28.4% during the third quarter. Citigroup Inc. now owns 163,272 shares of the technology company's stock valued at $3,551,000 after acquiring an additional 36,075 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of NetScout Systems in the third quarter valued at $940,000. 91.64% of the stock is owned by hedge funds and other 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.