NetScout Systems, Inc. (NASDAQ:NTCT) Shares Purchased by KLP Kapitalforvaltning AS

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 raised its holdings in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 252.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,300 shares of the technology company's stock after acquiring an additional 34,600 shares during the period. 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 bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of NetScout Systems by 1,214.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company's stock valued at $30,000 after purchasing an additional 1,263 shares during the last quarter. Sterling Capital Management LLC grew its holdings in NetScout Systems by 811.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock valued at $48,000 after buying an additional 1,973 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NetScout Systems in the 4th quarter worth $71,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of NetScout Systems in the 1st quarter worth $216,000. Finally, Lazard Asset Management LLC purchased a new position in shares of NetScout Systems during the 4th quarter worth $229,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NetScout Systems Trading Down 2.1%

Shares of NTCT stock opened at $21.79 on Tuesday. NetScout Systems, Inc. has a twelve month low of $17.96 and a twelve month high of $27.89. The company's 50-day moving average price is $23.46 and its 200-day moving average price is $22.47. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -4.23 and a beta of 0.65.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.52 EPS for the quarter, hitting 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 company had revenue of $204.99 million for the quarter, compared to the consensus estimate of $194.80 million. During the same period in the previous year, the firm earned $0.55 earnings per share. NetScout Systems's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts predict that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Activity

In other NetScout Systems news, COO Michael Szabados sold 7,500 shares of NetScout Systems stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Downing sold 3,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $23.47, for a total value of $70,410.00. Following the completion of the transaction, the executive vice president directly owned 127,352 shares in the company, valued at approximately $2,988,951.44. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,000 shares of company stock valued at $324,660. 3.71% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding NTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NetScout Systems, Inc. (NASDAQ:NTCT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.