Gabelli Funds LLC Sells 13,728 Shares of NetScout Systems, Inc. $NTCT

Gabelli Funds LLC reduced its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 13.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 90,000 shares of the technology company’s stock after selling 13,728 shares during the quarter. Gabelli Funds LLC’s holdings in NetScout Systems were worth $2,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new stake in NetScout Systems in the third quarter worth $118,440,000. Robeco Institutional Asset Management B.V. lifted its position in NetScout Systems by 93.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,559,192 shares of the technology company’s stock worth $42,192,000 after buying an additional 753,842 shares during the last quarter. Millennium Management LLC lifted its position in NetScout Systems by 1,361.1% in the third quarter. Millennium Management LLC now owns 747,824 shares of the technology company’s stock worth $19,316,000 after buying an additional 696,643 shares during the last quarter. Wellington Management Group LLP bought a new stake in NetScout Systems in the third quarter worth $16,091,000. Finally, LSV Asset Management lifted its position in NetScout Systems by 39.5% in the third quarter. LSV Asset Management now owns 1,700,014 shares of the technology company’s stock worth $43,911,000 after buying an additional 481,400 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NTCT. Royal Bank Of Canada lifted their target price 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. Wall Street Zen upgraded NetScout Systems from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings downgraded NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, NetScout Systems has an average rating of “Moderate Buy” and an average target price of $35.50.

NetScout Systems Trading Up 4.0%

NASDAQ:NTCT opened at $41.01 on Friday. NetScout Systems, Inc. has a twelve month low of $20.39 and a twelve month high of $41.87. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 31.55 and a beta of 0.61. The stock has a fifty day simple moving average of $34.00 and a 200-day simple moving average of $30.04.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.46 by $0.06. The firm had revenue of $203.04 million for the quarter, compared to analyst estimates of $198.64 million. NetScout Systems had a return on equity of 8.37% and a net margin of 11.11%.The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. As a group, equities research analysts predict that NetScout Systems, Inc. will post 1.97 EPS for the current fiscal year.

Insider Activity at NetScout Systems

In other news, Director Alfred Grasso sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $40.67, for a total transaction of $203,350.00. Following the transaction, the director owned 35,000 shares in the company, valued at approximately $1,423,450. This trade represents a 12.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.82% of the company’s stock.

NetScout Systems Profile

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.