Bank of America Corp DE Reduces Stake in NetScout Systems, Inc. (NASDAQ:NTCT)

Bank of America Corp DE reduced its stake in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 17.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,668 shares of the technology company's stock after selling 46,028 shares during the quarter. Bank of America Corp DE owned about 0.30% of NetScout Systems worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at NetScout Systems

In related news, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $23.47, for a total value of $70,410.00. Following the transaction, the executive vice president now directly owns 127,352 shares of the company's stock, valued at $2,988,951.44. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Szabados sold 7,500 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $22.77, for a total transaction of $170,775.00. Following the sale, the chief operating officer now owns 28,489 shares of the company's stock, valued at $648,694.53. This represents a 20.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.71% of the company's stock.

NetScout Systems Price Performance

Shares of NetScout Systems stock traded down $0.33 during trading on Friday, hitting $22.79. 378,451 shares of the stock traded hands, compared to its average volume of 539,370. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -3.89 and a beta of 0.62. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. NetScout Systems, Inc. has a 52 week low of $17.10 and a 52 week high of $27.89. The firm's fifty day moving average is $21.39 and its 200-day moving average is $22.02.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last announced its quarterly earnings data 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 negative net margin of 50.90% and a positive return on equity of 6.76%. The firm had revenue of $204.99 million during the quarter, compared to analyst estimates of $194.80 million. During the same period in the previous year, the business posted $0.55 EPS. The business's quarterly revenue was up .8% on a year-over-year basis. Research analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

NetScout Systems Company Profile

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.