NetScout Systems (NASDAQ:NTCT) Stock Price Down 2.6% – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT)’s stock price was down 2.6% during trading on Monday . The stock traded as low as $20.79 and last traded at $20.88. Approximately 52,738 shares changed hands during trading, a decline of 90% from the average daily volume of 541,417 shares. The stock had previously closed at $21.43.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada raised their target price on shares of 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 Stock Down 2.8 %

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 50-day moving average of $22.84 and a 200 day moving average of $21.89. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -3.56 and a beta of 0.64.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results 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%. On average, sell-side analysts anticipate that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

Insider Transactions at NetScout Systems

In other NetScout Systems news, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction dated 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 owns 130,352 shares of the company’s stock, valued at $3,161,036. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Szabados sold 6,500 shares of the company’s 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 transaction, the chief operating officer now directly owns 35,989 shares of the company’s stock, valued at $844,661.83. This trade represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,499 shares of company stock valued at $512,321. Insiders own 3.71% of the company’s stock.

Institutional Trading of NetScout Systems

Several hedge funds have recently bought and sold shares of NTCT. Mackenzie Financial Corp raised its holdings in shares of NetScout Systems by 89.1% during the fourth quarter. Mackenzie Financial Corp now owns 121,495 shares of the technology company’s stock valued at $2,632,000 after buying an additional 57,239 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NetScout Systems by 7.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,172 shares of the technology company’s stock valued at $4,292,000 after acquiring an additional 13,970 shares during the period. Vident Advisory LLC raised its stake in NetScout Systems by 4.4% during the 4th quarter. Vident Advisory LLC now owns 23,030 shares of the technology company’s stock valued at $499,000 after acquiring an additional 970 shares in the last quarter. Squarepoint Ops LLC boosted its position in NetScout Systems by 535.5% during the 4th quarter. Squarepoint Ops LLC now owns 136,059 shares of the technology company’s stock worth $2,947,000 after acquiring an additional 114,648 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of NetScout Systems by 4.4% in the fourth quarter. Tidal Investments LLC now owns 30,514 shares of the technology company’s stock worth $661,000 after purchasing an additional 1,294 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

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.