Bridgeway Capital Management LLC Sells 107,244 Shares of NetScout Systems, Inc. $NTCT

Key Points

• Bridgeway Capital Management LLC sold 107,244 shares of NetScout Systems, reducing its stake by 31.5%, now holding approximately 0.32% of the company's shares worth $4.9 million.
• NetScout Systems reported $0.34 EPS for the latest quarter, exceeding analyst expectations, with a revenue increase of 6.9% year-over-year.
• Analysts have a consensus rating of "Buy" on NetScout Systems, with a target price increase from B. Riley to $33.00.

Bridgeway Capital Management LLC reduced its position in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 31.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 233,104 shares of the technology company's stock after selling 107,244 shares during the period. Bridgeway Capital Management LLC owned about 0.32% of NetScout Systems worth $4,898,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NTCT. Nuveen LLC acquired a new stake in NetScout Systems in the 1st quarter valued at about $13,894,000. LSV Asset Management lifted its stake in NetScout Systems by 253.1% in the 1st quarter. LSV Asset Management now owns 909,855 shares of the technology company's stock valued at $19,116,000 after purchasing an additional 652,155 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in NetScout Systems by 39.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,152,379 shares of the technology company's stock valued at $24,211,000 after purchasing an additional 328,468 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in NetScout Systems by 54.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 499,592 shares of the technology company's stock valued at $10,496,000 after purchasing an additional 175,894 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in NetScout Systems in the 1st quarter valued at about $3,690,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NetScout Systems Stock Up 1.3%

Shares of NTCT stock opened at $25.05 on Friday. The firm has a 50 day moving average price of $23.07 and a two-hundred day moving average price of $22.40. The company has a market capitalization of $1.80 billion, a PE ratio of 25.05 and a beta of 0.73. NetScout Systems, Inc. has a 12-month low of $18.12 and a 12-month high of $27.89.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $186.75 million during the quarter, compared to the consensus estimate of $181.50 million. NetScout Systems had a net margin of 8.72% and a return on equity of 7.47%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. NetScout Systems has set its FY 2026 guidance at 2.250-2.40 EPS. As a group, research analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Activity

In other news, Director Michael Szabados sold 4,000 shares of NetScout Systems stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $22.91, for a total value of $91,640.00. Following the completion of the sale, the director directly owned 38,939 shares in the company, valued at approximately $892,092.49. The trade was a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alfred Grasso sold 5,644 shares of NetScout Systems stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.44, for a total transaction of $137,939.36. Following the completion of the sale, the director owned 33,000 shares of the company's stock, valued at approximately $806,520. The trade was a 14.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,500 shares of company stock worth $442,348. Corporate insiders own 3.82% of the company's stock.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on shares of NetScout Systems in a research note on Tuesday, August 26th. They issued a "buy" rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $29.00.

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.

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