NetScout Systems, Inc. (NASDAQ:NTCT) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its holdings in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 89.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,583 shares of the technology company's stock after selling 110,924 shares during the quarter. Cubist Systematic Strategies LLC's holdings in NetScout Systems were worth $294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of NetScout Systems by 1,214.4% during the fourth 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 in the last quarter. Sterling Capital Management LLC increased its position in shares of NetScout Systems by 811.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock worth $48,000 after purchasing an additional 1,973 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company's stock worth $76,000 after buying an additional 508 shares during the last quarter. KBC Group NV boosted its stake in NetScout Systems by 45.1% during the fourth quarter. KBC Group NV now owns 4,498 shares of the technology company's stock worth $97,000 after buying an additional 1,398 shares during the last quarter. Finally, Inceptionr LLC acquired a new position in NetScout Systems during the fourth quarter worth $221,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Michael Szabados sold 7,500 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total value of $170,775.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.71% of the company's stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada boosted their price objective on NetScout Systems from $22.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st.

NetScout Systems Trading Down 1.9%

NASDAQ NTCT traded down $0.44 on Friday, reaching $22.84. 239,562 shares of the company were exchanged, compared to its average volume of 539,694. The business's fifty day moving average price is $21.23 and its 200 day moving average price is $22.01. The stock has a market capitalization of $1.64 billion, a P/E ratio of -3.90 and a beta of 0.62. The company has a current ratio of 1.81, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. NetScout Systems, Inc. has a fifty-two week low of $17.10 and a fifty-two week high of $27.89.

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 for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $204.99 million for the quarter, compared to analyst estimates of $194.80 million. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Analysts forecast that NetScout Systems, Inc. will post 1.5 earnings per share for the current 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.