Michael Szabados Sells 7,500 Shares of NetScout Systems, Inc. (NASDAQ:NTCT) Stock

NetScout Systems, Inc. (NASDAQ:NTCT) COO Michael Szabados sold 7,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total transaction of $170,775.00. Following the completion of the transaction, the chief operating officer now directly owns 28,489 shares in the company, valued at $648,694.53. This trade represents a 20.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

NetScout Systems Price Performance

NTCT opened at $23.31 on Friday. The firm has a market cap of $1.67 billion, a P/E ratio of -3.98 and a beta of 0.62. The firm has a 50-day moving average of $20.99 and a 200 day moving average of $21.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.81. NetScout Systems, Inc. has a fifty-two week low of $17.10 and a fifty-two week high of $27.89.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $204.99 million during the quarter, compared to analyst estimates of $194.80 million. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, research analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada increased 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.

Institutional Investors Weigh In On NetScout Systems

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in NetScout Systems by 1,214.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,263 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in NetScout Systems by 811.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,973 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in NetScout Systems during the fourth quarter valued at about $71,000. PNC Financial Services Group Inc. lifted its holdings in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock valued at $76,000 after purchasing an additional 508 shares during the last quarter. Finally, KBC Group NV lifted its holdings in NetScout Systems by 45.1% during the fourth quarter. KBC Group NV now owns 4,498 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,398 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

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.