KLP Kapitalforvaltning AS Raises Stake in NetScout Systems, Inc. (NASDAQ:NTCT)

Key Points

• KLP Kapitalforvaltning AS increased its holdings in NetScout Systems by 252.6% in Q1, owning 48,300 shares valued at approximately $1.015 million.
• NetScout reported earnings of $0.52 EPS for the quarter, meeting analysts' expectations, and a revenue of $204.99 million, which exceeded consensus estimates.
• Insider selling activity included COO Michael Szabados selling 7,500 shares, resulting in a 20.84% decrease in his ownership stake.

KLP Kapitalforvaltning AS increased its holdings in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 252.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,300 shares of the technology company's stock after acquiring an additional 34,600 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.07% of NetScout Systems worth $1,015,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of NetScout Systems in the 1st quarter valued at $1,634,000. Allianz Asset Management GmbH grew its position in NetScout Systems by 8.5% in the 1st quarter. Allianz Asset Management GmbH now owns 779,820 shares of the technology company's stock valued at $16,384,000 after buying an additional 60,820 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in NetScout Systems in the 1st quarter valued at $882,000. Victory Capital Management Inc. grew its position in NetScout Systems by 141.8% in the 1st quarter. Victory Capital Management Inc. now owns 194,631 shares of the technology company's stock valued at $4,089,000 after buying an additional 114,124 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its position in NetScout Systems by 4.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 11,097 shares of the technology company's stock valued at $233,000 after buying an additional 504 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NetScout Systems news, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the business's stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Szabados sold 7,500 shares of the business's stock in a transaction 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 sale, the chief operating officer owned 28,489 shares in the company, valued at $648,694.53. The trade was a 20.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,000 shares of company stock worth $324,660. Corporate insiders own 3.71% of the company's stock.

NetScout Systems Stock Down 2.7%

NASDAQ:NTCT traded down $0.58 during midday trading on Friday, reaching $20.85. The stock had a trading volume of 117,097 shares, compared to its average volume of 499,523. The firm has a fifty day simple moving average of $23.35 and a two-hundred day simple moving average of $22.46. NetScout Systems, Inc. has a 12-month low of $17.96 and a 12-month high of $27.89. The stock has a market cap of $1.51 billion, a P/E ratio of -4.04 and a beta of 0.65.

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, meeting analysts' consensus estimates of $0.52. NetScout Systems had a negative net margin of 44.60% and a positive return on equity of 7.37%. The firm had revenue of $204.99 million for the quarter, compared to analyst estimates of $194.80 million. During the same period last year, the firm posted $0.55 EPS. NetScout Systems's quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

About NetScout Systems

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.