Voloridge Investment Management LLC lowered its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,806 shares of the technology company's stock after selling 170,051 shares during the quarter. Voloridge Investment Management LLC owned about 0.55% of NetScout Systems worth $8,487,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in NetScout Systems by 1,214.4% in 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. Sterling Capital Management LLC increased its position in shares of NetScout Systems by 811.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock worth $48,000 after purchasing an additional 1,973 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in NetScout Systems during the 4th quarter valued at about $71,000. PNC Financial Services Group Inc. boosted its holdings in NetScout Systems by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company's stock valued at $76,000 after acquiring an additional 508 shares during the period. Finally, KBC Group NV grew its position in shares of NetScout Systems by 45.1% during the fourth quarter. KBC Group NV now owns 4,498 shares of the technology company's stock worth $97,000 after buying an additional 1,398 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.
Analyst Ratings Changes
Separately, Royal Bank of Canada boosted their target price on NetScout Systems from $22.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st.
Get Our Latest Stock Report on NetScout Systems
NetScout Systems Stock Performance
NTCT traded down $0.41 during trading on Friday, hitting $22.71. 49,303 shares of the stock were exchanged, compared to its average volume of 537,293. The firm has a market capitalization of $1.62 billion, a P/E ratio of -3.89 and a beta of 0.62. NetScout Systems, Inc. has a 1-year low of $17.10 and a 1-year high of $27.89. The stock has a fifty day moving average price of $21.37 and a two-hundred day moving average price of $22.03. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05.
NetScout Systems (NASDAQ:NTCT - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $204.99 million for the quarter, compared to analyst estimates of $194.80 million. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company 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.
Insider Buying and Selling at NetScout Systems
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 shares were sold at an average price of $22.77, for a total value of $170,775.00. Following the sale, the chief operating officer now directly owns 28,489 shares in the company, valued at approximately $648,694.53. The trade was a 20.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.71% of the stock is owned by corporate insiders.
NetScout Systems Company Profile
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Free Report)
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.
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