LSV Asset Management Acquires 652,155 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Key Points

• LSV Asset Management increased its stake in NetScout Systems by 253.1% in the 1st quarter, owning a total of 909,855 shares valued at approximately $19.1 million.
• Other large investors also increased their positions, with notable increases from Legal & General Group Plc, Assenagon Asset Management, and JPMorgan Chase & Co., showcasing strong institutional interest in NetScout Systems.
• NetScout Systems recently reported earnings of $0.52 per share, meeting expectations, with revenues rising to $204.99 million, reflecting a 0.8% increase year-over-year.

LSV Asset Management increased its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 253.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 909,855 shares of the technology company's stock after buying an additional 652,155 shares during the period. LSV Asset Management owned 1.27% of NetScout Systems worth $19,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in shares of NetScout Systems by 1,214.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company's stock valued at $30,000 after acquiring an additional 1,263 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of NetScout Systems by 811.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock valued at $48,000 after acquiring an additional 1,973 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NetScout Systems in the 4th quarter valued at about $71,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of NetScout Systems in the 1st quarter valued at about $216,000. Finally, Lazard Asset Management LLC bought a new stake in shares of NetScout Systems in the 4th quarter valued at about $229,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Insider Buying and Selling

In related news, COO Michael Szabados sold 7,500 shares of the 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 completion of the sale, the chief operating officer directly owned 28,489 shares of the company's stock, valued at approximately $648,694.53. This represents a 20.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $23.85, for a total value of $83,475.00. Following the sale, the director directly owned 127,798 shares of the company's stock, valued at approximately $3,047,982.30. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,000 shares of company stock valued at $324,660. 3.82% of the stock is owned by corporate insiders.

NetScout Systems Stock Performance

NASDAQ NTCT traded up $0.29 during trading hours on Friday, reaching $21.57. 308,369 shares of the company's stock were exchanged, compared to its average volume of 505,557. The company's 50-day moving average is $23.17 and its two-hundred day moving average is $22.43. NetScout Systems, Inc. has a one year low of $18.12 and a one year high of $27.89. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -4.19 and a beta of 0.65.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.52. NetScout Systems had a positive return on equity of 7.37% and a negative net margin of 44.60%. The business had revenue of $204.99 million during the quarter, compared to analysts' expectations of $194.80 million. During the same period in the prior year, the business earned $0.55 EPS. NetScout Systems's revenue for the quarter was up .8% compared to the same quarter last year. Research analysts predict that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

NetScout Systems 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.