Insider Selling: NetScout Systems (NASDAQ:NTCT) COO Sells $89,103.63 in Stock

NetScout Systems, Inc. (NASDAQ:NTCT) COO Sanjay Munshi sold 2,269 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $39.27, for a total transaction of $89,103.63. Following the completion of the sale, the chief operating officer owned 6,729 shares of the company’s stock, valued at $264,247.83. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NetScout Systems Price Performance

NASDAQ NTCT opened at $38.49 on Friday. NetScout Systems, Inc. has a fifty-two week low of $22.75 and a fifty-two week high of $45.28. The stock’s 50-day moving average is $40.70 and its two-hundred day moving average is $36.18. The firm has a market cap of $2.80 billion, a P/E ratio of 23.47 and a beta of 0.69.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.14. NetScout Systems had a return on equity of 9.25% and a net margin of 13.71%.The company had revenue of $210.42 million during the quarter, compared to analysts’ expectations of $196.17 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. On average, equities analysts expect that NetScout Systems, Inc. will post 2.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of NetScout Systems in the second quarter valued at about $498,027,000. Legal & General Group Plc acquired a new position in NetScout Systems in the 2nd quarter valued at approximately $165,970,000. First Trust Advisors LP raised its holdings in NetScout Systems by 40.8% in the 4th quarter. First Trust Advisors LP now owns 2,519,733 shares of the technology company’s stock valued at $68,184,000 after acquiring an additional 729,632 shares in the last quarter. Millennium Management LLC lifted its position in shares of NetScout Systems by 1,361.1% in the 3rd quarter. Millennium Management LLC now owns 747,824 shares of the technology company’s stock worth $19,316,000 after acquiring an additional 696,643 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of NetScout Systems in the 3rd quarter worth approximately $16,091,000. Institutional investors own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research raised shares of NetScout Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings upgraded NetScout Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Royal Bank Of Canada boosted their price objective on NetScout Systems from $29.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $35.50.

About NetScout Systems

NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout’s flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.

Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.