Michael Szabados Sells 6,500 Shares of NetScout Systems, Inc. (NASDAQ:NTCT) Stock

NetScout Systems, Inc. (NASDAQ:NTCT) COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 $844,661.83. This represents a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NetScout Systems Price Performance

Shares of NetScout Systems stock traded up $0.53 during trading on Wednesday, hitting $24.67. The stock had a trading volume of 509,601 shares, compared to its average volume of 434,249. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -4.21 and a beta of 0.60. NetScout Systems, Inc. has a 12 month low of $17.10 and a 12 month high of $27.89. The business’s 50-day moving average is $22.27 and its 200 day moving average is $21.23. The company has a current ratio of 1.81, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that NetScout Systems, Inc. will post 1.6 earnings per share for the current year.

Institutional Trading of NetScout Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its holdings in 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 buying an additional 109,569 shares during the period. Pacer Advisors Inc. boosted its holdings in NetScout Systems by 224,935.8% in the third quarter. Pacer Advisors Inc. now owns 2,056,827 shares of the technology company’s stock worth $44,736,000 after purchasing an additional 2,055,913 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NetScout Systems by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,929,551 shares of the technology company’s stock worth $41,975,000 after acquiring an additional 81,154 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of NetScout Systems by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,443 shares of the technology company’s stock worth $25,348,000 after acquiring an additional 108,258 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of NetScout Systems by 24.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,053,606 shares of the technology company’s stock valued at $22,916,000 after buying an additional 207,171 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTCT. 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. StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

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.