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

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

Several other large investors also recently bought and sold shares of NTCT. Russell Investments Group Ltd. increased its holdings in NetScout Systems by 1,214.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company's stock worth $30,000 after purchasing an additional 1,263 shares during the period. Sterling Capital Management LLC boosted its position in shares of NetScout Systems by 811.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock worth $48,000 after acquiring an additional 1,973 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NetScout Systems by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company's stock worth $76,000 after acquiring an additional 508 shares in the last quarter. KBC Group NV boosted its position in shares of NetScout Systems by 45.1% during the 4th quarter. KBC Group NV now owns 4,498 shares of the technology company's stock worth $97,000 after acquiring an additional 1,398 shares in the last quarter. Finally, Inceptionr LLC acquired a new position in shares of NetScout Systems during the 4th quarter worth about $221,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

NetScout Systems Stock Down 0.0%

Shares of NASDAQ:NTCT traded down $0.01 on Monday, hitting $22.83. 408,977 shares of the company's stock were exchanged, compared to its average volume of 538,841. The firm's 50-day moving average is $21.41 and its 200 day moving average is $22.03. The company has a market capitalization of $1.63 billion, a PE ratio of -3.90 and a beta of 0.62. NetScout Systems, Inc. has a 1-year low of $17.10 and a 1-year high of $27.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.81.

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

Insider Transactions at NetScout Systems

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

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.