Bank of America Corp DE Sells 43,067 Shares of NetScout Systems, Inc. $NTCT

Bank of America Corp DE trimmed its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 22.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,907 shares of the technology company's stock after selling 43,067 shares during the period. Bank of America Corp DE owned approximately 0.21% of NetScout Systems worth $4,829,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Edgestream Partners L.P. lifted its position in shares of NetScout Systems by 378.5% during the 1st quarter. Edgestream Partners L.P. now owns 171,391 shares of the technology company's stock worth $5,449,000 after buying an additional 135,576 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of NetScout Systems by 25.1% in the 1st quarter. California State Teachers Retirement System now owns 82,314 shares of the technology company's stock valued at $2,617,000 after acquiring an additional 16,541 shares in the last quarter. Empowered Funds LLC boosted its stake in NetScout Systems by 22.2% in the first quarter. Empowered Funds LLC now owns 390,523 shares of the technology company's stock worth $12,415,000 after buying an additional 70,884 shares in the last quarter. Quantinno Capital Management LP increased its stake in NetScout Systems by 150.9% in the 1st quarter. Quantinno Capital Management LP now owns 36,474 shares of the technology company's stock worth $1,160,000 after purchasing an additional 21,937 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of NetScout Systems by 8.7% during the first quarter. Lazard Asset Management LLC now owns 585,039 shares of the technology company's stock valued at $18,598,000 after buying an additional 46,782 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Wall Street Analysts Forecast Growth

NTCT has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of NetScout Systems from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Zacks Research upgraded NetScout Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 19th. Weiss Ratings raised NetScout Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada increased their price objective on NetScout Systems from $29.00 to $38.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, NetScout Systems has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Insider Transactions at NetScout Systems

In related news, EVP John Downing sold 8,000 shares of the firm's stock in a transaction that occurred on 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 owned 127,809 shares in the company, valued at approximately $4,909,143.69. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Munshi sold 2,269 shares of the business'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 sale, the chief operating officer 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 22,269 shares of company stock valued at $869,504 in the last quarter. 4.74% of the stock is currently owned by corporate insiders.

NetScout Systems Stock Performance

NASDAQ:NTCT opened at $39.06 on Friday. NetScout Systems, Inc. has a one year low of $24.27 and a one year high of $45.28. The stock has a 50 day moving average price of $40.56 and a 200 day moving average price of $36.55. The stock has a market cap of $2.84 billion, a PE ratio of 23.82 and a beta of 0.69.

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

About NetScout Systems

NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout's flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.

Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.

Want to see what other hedge funds are holding NTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetScout Systems, Inc. (NASDAQ:NTCT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source