Allianz Asset Management GmbH Has $16.38 Million Stake in 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 grew its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 8.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 779,820 shares of the technology company's stock after buying an additional 60,820 shares during the period. Allianz Asset Management GmbH owned approximately 1.09% of NetScout Systems worth $16,384,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NTCT. Legal & General Group Plc grew its stake in shares of NetScout Systems by 12.2% in the 4th 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 during the period. Assenagon Asset Management S.A. grew its position in NetScout Systems by 39.9% in the first quarter. Assenagon Asset Management S.A. now owns 1,152,379 shares of the technology company's stock valued at $24,211,000 after acquiring an additional 328,468 shares during the period. JPMorgan Chase & Co. raised its stake in NetScout Systems by 137.7% during the fourth quarter. JPMorgan Chase & Co. now owns 388,286 shares of the technology company's stock worth $8,410,000 after acquiring an additional 224,925 shares in the last quarter. Norges Bank bought a new position in shares of NetScout Systems during the fourth quarter valued at $4,480,000. Finally, Prudential Financial Inc. boosted its stake in shares of NetScout Systems by 102.9% in the 4th quarter. Prudential Financial Inc. now owns 392,566 shares of the technology company's stock valued at $8,503,000 after purchasing an additional 199,079 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

NetScout Systems Trading Down 1.5%

Shares of NetScout Systems stock traded down $0.34 during mid-day trading on Monday, reaching $21.91. 221,167 shares of the stock were exchanged, compared to its average volume of 498,499. NetScout Systems, Inc. has a fifty-two week low of $17.96 and a fifty-two week high of $27.89. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -4.26 and a beta of 0.65. The firm has a 50-day simple moving average of $23.50 and a 200 day simple moving average of $22.47.

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

Insiders Place Their Bets

In other NetScout Systems news, COO Michael Szabados sold 7,500 shares of the business's stock in a transaction dated 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. The trade was a 20.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $23.85, for a total transaction of $83,475.00. Following the completion of the transaction, the director directly owned 127,798 shares in the company, 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. Insiders have sold a total of 14,000 shares of company stock valued at $324,660 in the last 90 days. 3.71% of the stock is currently owned by 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.