Magnetar Financial LLC Buys 20,961 Shares of NetScout Systems, Inc. $NTCT

Key Points

• Magnetar Financial LLC increased its stake in NetScout Systems by 117.6% during the first quarter, owning 38,778 shares worth approximately $815,000.
• NetScout Systems reported $0.34 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 6.9% year-over-year.
• Analysts have given a buy rating to NetScout Systems with an average price target of $29.00, indicating potential for growth in the company's stock price.

Magnetar Financial LLC grew its position in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 117.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,778 shares of the technology company's stock after purchasing an additional 20,961 shares during the period. Magnetar Financial LLC owned approximately 0.05% of NetScout Systems worth $815,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NetScout Systems in the fourth quarter valued at approximately $71,000. PNC Financial Services Group Inc. boosted its holdings in NetScout Systems by 15.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,048 shares of the technology company's stock valued at $85,000 after purchasing an additional 553 shares in the last quarter. State of Wyoming acquired a new stake in NetScout Systems during the 1st quarter worth $106,000. Quantbot Technologies LP boosted its position in shares of NetScout Systems by 262.1% in the 1st quarter. Quantbot Technologies LP now owns 8,782 shares of the technology company's stock valued at $185,000 after purchasing an additional 6,357 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in NetScout Systems in the 1st quarter valued at $216,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley started coverage on NetScout Systems in a research report on Tuesday, August 26th. They set a "buy" rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, NetScout Systems has a consensus rating of "Buy" and an average target price of $29.00.

Insider Buying and Selling

In other news, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the business's stock in a transaction 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 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 position. 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 the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $24.44, for a total value of $137,939.36. Following the completion of the transaction, the director directly owned 33,000 shares in the company, valued at $806,520. This represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,500 shares of company stock valued at $442,348 over the last 90 days. 3.82% of the stock is currently owned by company insiders.

NetScout Systems Trading Down 1.0%

NTCT stock traded down $0.26 during trading on Friday, reaching $24.80. The stock had a trading volume of 114,184 shares, compared to its average volume of 514,092. The firm has a fifty day moving average price of $23.07 and a 200 day moving average price of $22.40. The company has a market capitalization of $1.78 billion, a P/E ratio of 24.80 and a beta of 0.73. NetScout Systems, Inc. has a 1-year low of $18.12 and a 1-year high of $27.89.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. The business had revenue of $186.75 million for the quarter, compared to analyst estimates of $181.50 million. NetScout Systems had a net margin of 8.72% and a return on equity of 7.47%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 EPS. NetScout Systems has set its FY 2026 guidance at 2.250-2.40 EPS. Sell-side analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current 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.