Allianz Asset Management GmbH Acquires 60,820 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Key Points

• Allianz Asset Management increased its holdings in NetScout Systems by 8.5%, purchasing an additional 60,820 shares, bringing its total ownership to 779,820 shares valued at approximately $16.38 million.
• NetScout Systems reported earnings of $0.52 per share for the last quarter, meeting analysts' expectations, with revenue rising 0.8% year-over-year to $204.99 million.
• Insider trading activity included executives selling 14,000 shares in the past three months, with insiders now holding only 3.71% of the company's stock.

Allianz Asset Management GmbH boosted its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 779,820 shares of the technology company's stock after purchasing an additional 60,820 shares during the quarter. Allianz Asset Management GmbH owned about 1.09% of NetScout Systems worth $16,384,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC grew its holdings in shares of NetScout Systems by 4.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 11,097 shares of the technology company's stock worth $233,000 after purchasing an additional 504 shares in the last quarter. Mariner LLC grew its holdings in shares of NetScout Systems by 5.4% during the 4th quarter. Mariner LLC now owns 13,307 shares of the technology company's stock worth $288,000 after purchasing an additional 681 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of NetScout Systems by 4.4% during the 4th quarter. Vident Advisory LLC now owns 23,030 shares of the technology company's stock worth $499,000 after purchasing an additional 970 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of NetScout Systems by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 24,210 shares of the technology company's stock worth $524,000 after purchasing an additional 993 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of NetScout Systems by 1,214.4% during the 4th 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. Institutional investors own 91.64% of the company's stock.

NetScout Systems Stock Performance

Shares of NASDAQ:NTCT traded down $0.08 during trading on Tuesday, hitting $21.71. 60,712 shares of the stock were exchanged, compared to its average volume of 498,428. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -4.22 and a beta of 0.65. NetScout Systems, Inc. has a 1-year low of $17.96 and a 1-year high of $27.89. The company's fifty day simple moving average is $23.46 and its 200-day simple moving average is $22.47.

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

Insider Buying and Selling

In related news, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $23.85, for a total transaction of $83,475.00. Following the completion of the transaction, the director owned 127,798 shares in the company, valued at $3,047,982.30. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Szabados sold 7,500 shares of NetScout Systems stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $22.77, for a total value of $170,775.00. Following the completion of the transaction, the chief operating officer owned 28,489 shares of the company's stock, valued at approximately $648,694.53. The trade was a 20.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $324,660 in the last 90 days. 3.71% of the stock is owned by company insiders.

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.