NetScout Systems, Inc. (NASDAQ:NTCT) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 52.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 277,916 shares of the technology company's stock after selling 310,131 shares during the period. Millennium Management LLC owned 0.39% of NetScout Systems worth $6,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NTCT. Legal & General Group Plc lifted its holdings in shares of NetScout Systems by 12.2% in the fourth quarter. Legal & General Group Plc now owns 4,118,267 shares of the technology company's stock valued at $89,202,000 after purchasing an additional 448,537 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of NetScout Systems by 137.7% during the fourth quarter. JPMorgan Chase & Co. now owns 388,286 shares of the technology company's stock valued at $8,410,000 after buying an additional 224,925 shares during the period. Norges Bank purchased a new position in shares of NetScout Systems during the fourth quarter valued at approximately $4,480,000. Prudential Financial Inc. lifted its stake in shares of NetScout Systems by 102.9% during the fourth quarter. Prudential Financial Inc. now owns 392,566 shares of the technology company's stock valued at $8,503,000 after buying an additional 199,079 shares during the period. Finally, LSV Asset Management lifted its stake in shares of NetScout Systems by 205.7% during the fourth quarter. LSV Asset Management now owns 257,700 shares of the technology company's stock valued at $5,582,000 after buying an additional 173,400 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Insider Buying and Selling

In related news, COO Michael Szabados sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $22.77, for a total transaction of $170,775.00. Following the completion of the transaction, the chief operating officer now owns 28,489 shares of the company's stock, valued at approximately $648,694.53. This represents a 20.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Downing sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $23.47, for a total transaction of $70,410.00. Following the transaction, the executive vice president now directly owns 127,352 shares of the company's stock, valued at $2,988,951.44. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. 3.71% of the stock is currently owned by company insiders.

NetScout Systems Trading Down 1.4%

Shares of NTCT traded down $0.33 on Friday, hitting $22.79. 378,451 shares of the stock traded hands, compared to its average volume of 539,370. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.63 billion, a P/E ratio of -3.89 and a beta of 0.62. The stock's 50 day moving average is $21.39 and its two-hundred day moving average is $22.02. NetScout Systems, Inc. has a 1 year low of $17.10 and a 1 year high of $27.89.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $204.99 million for the quarter, compared to the consensus estimate of $194.80 million. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, sell-side analysts predict 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.