Norges Bank purchased a new position in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 206,828 shares of the technology company's stock, valued at approximately $4,480,000. Norges Bank owned 0.29% of NetScout Systems as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in NTCT. Vanguard Group Inc. increased its stake in NetScout Systems by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 9,353,501 shares of the technology company's stock worth $202,597,000 after acquiring an additional 64,475 shares during the last quarter. State Street Corp increased its position in shares of NetScout Systems by 3.7% in the third quarter. State Street Corp now owns 3,098,279 shares of the technology company's stock worth $67,388,000 after purchasing an additional 109,569 shares during the last quarter. Geode Capital Management LLC raised its stake in NetScout Systems by 4.4% in the third quarter. Geode Capital Management LLC now owns 1,929,551 shares of the technology company's stock valued at $41,975,000 after purchasing an additional 81,154 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in NetScout Systems by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,251,156 shares of the technology company's stock valued at $27,100,000 after purchasing an additional 85,713 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in NetScout Systems by 34.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,611 shares of the technology company's stock worth $12,966,000 after buying an additional 152,224 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.
Insider Activity at NetScout Systems
In other NetScout Systems news, EVP John Downing sold 3,000 shares of NetScout Systems 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Szabados sold 6,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total value of $152,555.00. Following the sale, the chief operating officer now directly owns 35,989 shares of the company's stock, valued at approximately $844,661.83. This trade represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,499 shares of company stock valued at $512,321. Insiders own 3.71% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada raised 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.
Check Out Our Latest Research Report on NTCT
NetScout Systems Price Performance
Shares of NTCT traded up $0.14 during midday trading on Tuesday, reaching $20.24. The stock had a trading volume of 19,990 shares, compared to its average volume of 462,248. 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 company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -3.45 and a beta of 0.66. The company's 50-day moving average is $21.90 and its 200 day moving average is $21.91. 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 issued its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) 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, equities analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.
About NetScout Systems
(
Free Report)
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.
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