Balyasny Asset Management L.P. Takes Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Balyasny Asset Management L.P. acquired a new position in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,636 shares of the technology company's stock, valued at approximately $317,000.

Several other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in NetScout Systems by 55.0% in the fourth quarter. Victory Capital Management Inc. now owns 80,507 shares of the technology company's stock valued at $1,744,000 after purchasing an additional 28,583 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of NetScout Systems by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,251,156 shares of the technology company's stock worth $27,100,000 after purchasing an additional 85,713 shares during the last quarter. Vanguard Group Inc. lifted its stake in NetScout Systems by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,353,501 shares of the technology company's stock valued at $202,597,000 after buying an additional 64,475 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of NetScout Systems by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 347,650 shares of the technology company's stock valued at $7,530,000 after acquiring an additional 11,617 shares during the period. Finally, Empowered Funds LLC boosted its stake in NetScout Systems by 4.9% during the 4th quarter. Empowered Funds LLC now owns 43,148 shares of the technology company's stock worth $935,000 after purchasing an additional 2,008 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their price target on shares of NetScout Systems from $22.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, January 31st.

Insider Buying and Selling

In other NetScout Systems news, COO Michael Szabados sold 7,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total value of $170,775.00. Following the transaction, the chief operating officer now directly owns 28,489 shares of the company's stock, valued at $648,694.53. This trade represents a 20.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.71% of the company's stock.

NetScout Systems Price Performance

Shares of NetScout Systems stock traded down $0.20 on Wednesday, hitting $23.32. The company's stock had a trading volume of 527,036 shares, compared to its average volume of 540,860. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $21.10 and a 200-day moving average price of $21.96. NetScout Systems, Inc. has a 52-week low of $17.10 and a 52-week high of $27.89. The company has a market capitalization of $1.67 billion, a P/E ratio of -3.98 and a beta of 0.62.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. The company had revenue of $204.99 million during the quarter, compared to analysts' expectations of $194.80 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts expect that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

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.