NetScout Systems (NASDAQ:NTCT) Stock Price Down 0.8% – Here’s Why

NetScout Systems, Inc. (NASDAQ:NTCT) fell 0.8% during trading on Friday . The stock traded as low as $21.18 and last traded at $21.31. 41,873 shares were traded during mid-day trading, a decline of 90% from the average session volume of 435,329 shares. The stock had previously closed at $21.48.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NTCT. Royal Bank of Canada lifted their price target 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. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

NetScout Systems Stock Performance

The stock’s 50 day moving average price is $22.85 and its 200 day moving average price is $21.86. 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 market cap of $1.54 billion, a PE ratio of -3.66 and a beta of 0.64.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 EPS 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 forecast that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Activity at NetScout Systems

In other NetScout Systems news, COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total transaction 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. The trade was a 15.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 130,352 shares of the company’s stock, valued at approximately $3,161,036. This trade represents a 2.25 % 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 in the last ninety days. 3.71% of the stock is owned by insiders.

Institutional Trading of NetScout Systems

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised 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 purchasing an additional 81,154 shares in the last quarter. Citigroup Inc. lifted its stake in NetScout Systems by 28.4% in 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. Weiss Asset Management LP bought a new stake in NetScout Systems in the third quarter worth approximately $1,783,000. Capstone Investment Advisors LLC acquired a new position in shares of NetScout Systems during the 3rd quarter worth $940,000. Finally, Pacer Advisors Inc. increased its position in NetScout Systems by 224,935.8% during the third quarter. Pacer Advisors Inc. now owns 2,056,827 shares of the technology company’s stock worth $44,736,000 after buying an additional 2,055,913 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.