Bank of America Corp DE Acquires 162,924 Shares of NetScout Systems, Inc. $NTCT

Key Points

• Bank of America acquired 162,924 NetScout shares worth approximately $7.1 million in the second quarter, while institutional investors collectively own 91.64% of NTCT.
• Analyst sentiment is generally positive: NetScout has a consensus “Moderate Buy” rating and an average price target of $38, though recent ratings included both upgrades and a downgrade.
• NetScout exceeded quarterly expectations, reporting $0.52 EPS versus the $0.38 consensus and $210.42 million in revenue, up 12.7% year over year. However, insiders sold 21,269 shares worth about $813,184 over the past 90 days.

Bank of America Corp DE acquired a new position in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 162,924 shares of the technology company's stock, valued at approximately $7,095,000. Bank of America Corp DE owned approximately 0.22% of NetScout Systems as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NTCT. Freestone Grove Partners LP bought a new position in shares of NetScout Systems during the second quarter valued at about $1,259,000. Odyssean LLC boosted its stake in shares of NetScout Systems by 44.1% in the 2nd quarter. Odyssean LLC now owns 71,772 shares of the technology company's stock worth $3,126,000 after buying an additional 21,962 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of NetScout Systems in the second quarter valued at approximately $1,361,000. Hsbc Holdings PLC bought a new position in shares of NetScout Systems in the second quarter valued at approximately $6,415,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of NetScout Systems during the second quarter valued at approximately $706,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of NetScout Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of NetScout Systems from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of NetScout Systems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

NetScout Systems Price Performance

Shares of NASDAQ NTCT opened at $39.44 on Monday. The stock's 50-day simple moving average is $39.02 and its two-hundred day simple moving average is $37.86. NetScout Systems, Inc. has a twelve month low of $25.20 and a twelve month high of $45.28. The firm has a market capitalization of $2.87 billion, a P/E ratio of 24.05 and a beta of 0.69.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $210.42 million during the quarter, compared to the consensus estimate of $196.17 million. During the same quarter last year, the company posted $0.34 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. As a group, research analysts anticipate that NetScout Systems, Inc. will post 2.15 EPS for the current fiscal year.

Insider Activity at NetScout Systems

In related news, Director Michael Szabados sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $37.70, for a total value of $150,800.00. Following the sale, the director owned 41,654 shares in the company, valued at $1,570,355.80. This represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Downing sold 8,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $38.41, for a total transaction of $307,280.00. Following the sale, the executive vice president directly owned 127,809 shares in the company, valued at $4,909,143.69. This trade represents a 5.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 21,269 shares of company stock valued at $813,184. 4.74% of the stock is currently owned by corporate insiders.

About NetScout Systems

NetScout Systems, Inc NASDAQ: NTCT provides network monitoring, service assurance, and cybersecurity solutions for enterprises, telecommunications providers, government organizations, and other large institutions. Its technology helps customers maintain network performance, identify service disruptions, analyze application and user experience, and detect or mitigate cyberthreats.

The company's product portfolio includes network traffic and performance monitoring platforms, packet-based visibility tools, application and service assurance software, and distributed denial-of-service (DDoS) protection solutions.

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