Assenagon Asset Management S.A. Acquires New Position in NetScout Systems, Inc. $NTCT

Key Points

• Assenagon Asset Management initiated a 26,315-share position in NetScout Systems worth approximately $1.06 million. Institutional investors collectively own 91.64% of the company.
• NetScout reported a quarterly earnings beat, with EPS of $0.52 versus the $0.38 consensus estimate and revenue of $210.42 million, up 12.7% year over year.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and a $39 price target, while shares recently traded near $38.31. Company insiders have sold 21,269 shares worth about $813,000 over the past 90 days.

Assenagon Asset Management S.A. bought a new position in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm bought 26,315 shares of the technology company's stock, valued at approximately $1,057,000.

Other large investors also recently bought and sold shares of the company. Group One Trading LLC purchased a new position in NetScout Systems in the 2nd quarter worth $47,000. Nykredit A S purchased a new stake in NetScout Systems during the 2nd quarter valued at about $50,000. Ameritas Advisory Services LLC purchased a new stake in NetScout Systems during the 2nd quarter valued at about $53,000. Public Employees Retirement System of Ohio acquired a new position in shares of NetScout Systems in the second quarter valued at about $68,000. Finally, GAMMA Investing LLC increased its holdings in shares of NetScout Systems by 20.7% in the third quarter. GAMMA Investing LLC now owns 1,768 shares of the technology company's stock valued at $71,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

NetScout Systems Trading Down 1.0%

NetScout Systems stock opened at $38.31 on Friday. The firm has a market cap of $2.79 billion, a PE ratio of 23.36 and a beta of 0.69. NetScout Systems, Inc. has a 12 month low of $25.29 and a 12 month high of $45.28. The stock's 50 day simple moving average is $38.83 and its two-hundred day simple moving average is $38.98.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research cut NetScout Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 8th. Weiss Ratings upgraded NetScout Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Royal Bank Of Canada increased their price target on shares of NetScout Systems from $38.00 to $43.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised shares of NetScout Systems from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $39.00.

Insiders Place Their Bets

In related news, Director Christopher Perretta sold 7,000 shares of NetScout Systems stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $38.00, for a total value of $266,000.00. Following the completion of the transaction, the director owned 40,866 shares in the company, valued at $1,552,908. The trade was a 14.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Munshi sold 2,269 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $39.27, for a total value of $89,103.63. Following the completion of the transaction, the chief operating officer directly owned 6,729 shares of the company's stock, valued at $264,247.83. The trade was a 25.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,269 shares of company stock worth $813,184 in the last 90 days. 4.74% of the stock is currently owned by company insiders.

NetScout Systems Company Profile

NetScout Systems, Inc NASDAQ: NTCT provides network performance management, service assurance and cybersecurity solutions for enterprises, communications service providers, government organizations and other large institutions. Its technologies are designed to help customers monitor network traffic, identify performance issues, maintain service availability and detect or respond to cyberthreats.

The company's offerings include the nGeniusONE service assurance platform, InfiniStream network monitoring and packet-based visibility technologies, and solutions associated with its Arbor portfolio for distributed denial-of-service protection, network detection and response, and other cybersecurity applications.

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