Summit Global Investments Buys New Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

Summit Global Investments purchased a new position in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 33,149 shares of the technology company's stock, valued at approximately $718,000.

Other large investors have also made changes to their positions in the company. Magnetar Financial LLC grew its position in NetScout Systems by 76.6% during the fourth quarter. Magnetar Financial LLC now owns 17,817 shares of the technology company's stock worth $386,000 after buying an additional 7,727 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of NetScout Systems by 182.9% in the 4th quarter. Teacher Retirement System of Texas now owns 137,570 shares of the technology company's stock worth $2,980,000 after acquiring an additional 88,945 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of NetScout Systems by 1.6% in the 4th quarter. First Eagle Investment Management LLC now owns 248,505 shares of the technology company's stock worth $5,383,000 after acquiring an additional 4,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased 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 valued at $12,966,000 after purchasing an additional 152,224 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in NetScout Systems during the fourth quarter worth $2,395,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NTCT. Royal Bank of Canada raised their price target on NetScout Systems from $22.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. StockNews.com raised shares of NetScout Systems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, December 10th.

Insiders Place Their Bets

In related news, COO Michael Szabados sold 6,500 shares of the stock in a transaction dated 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 in the company, valued at approximately $844,661.83. This represents a 15.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jean A. Bua sold 11,999 shares of the firm'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 completion of the sale, the insider now directly owns 71,361 shares in the company, valued at approximately $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. Insiders have sold a total of 21,499 shares of company stock valued at $512,321 in the last quarter. 3.71% of the stock is currently owned by company insiders.

NetScout Systems Price Performance

Shares of NASDAQ:NTCT traded up $0.02 on Tuesday, hitting $21.86. The company had a trading volume of 137,002 shares, compared to its average volume of 464,510. The company has a market cap of $1.57 billion, a PE ratio of -3.73 and a beta of 0.64. 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 business has a 50 day moving average of $22.73 and a 200 day moving average of $21.90. NetScout Systems, Inc. has a 52-week low of $17.10 and a 52-week high of $27.89.

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

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.