Pacer Advisors Inc. Trims Stake in NetScout Systems, Inc. (NASDAQ:NTCT)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in NetScout Systems, selling 1,431,162 shares and now holding 584,502 shares, which accounts for about 0.81% of the company.
• Insider transactions reveal that executive John Downing and director Joseph G. Hadzima, Jr. sold shares recently, indicating a decrease in their positions by 2.30% and 2.67% respectively.
• NetScout Systems' stock has experienced a 1.1% decline, currently trading at $22.25, with a market cap of $1.59 billion and a P/E ratio of -4.32.

Pacer Advisors Inc. lessened its stake in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 71.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 584,502 shares of the technology company's stock after selling 1,431,162 shares during the quarter. Pacer Advisors Inc. owned 0.81% of NetScout Systems worth $12,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake 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 valued at $30,000 after purchasing an additional 1,263 shares during the period. Sterling Capital Management LLC lifted 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 worth $48,000 after purchasing an additional 1,973 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in NetScout Systems in the 4th quarter worth approximately $71,000. Wealth Enhancement Advisory Services LLC purchased a new position in NetScout Systems in the 1st quarter worth approximately $216,000. Finally, Lazard Asset Management LLC purchased a new position in NetScout Systems in the 4th quarter worth approximately $229,000. 91.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NetScout Systems

In other NetScout Systems news, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $23.85, for a total value of $83,475.00. Following the completion of the sale, the director directly owned 127,798 shares in the company, valued at approximately $3,047,982.30. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Downing sold 3,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 127,352 shares of the company's stock, valued at approximately $2,988,951.44. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $324,660 in the last quarter. 3.71% of the stock is owned by insiders.

NetScout Systems Stock Up 0.1%

NASDAQ NTCT traded up $0.02 during trading hours on Wednesday, reaching $21.60. The company's stock had a trading volume of 62,278 shares, compared to its average volume of 498,608. The firm's 50-day moving average price is $23.42 and its 200-day moving average price is $22.47. NetScout Systems, Inc. has a 1 year low of $17.96 and a 1 year high of $27.89. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -4.19 and a beta of 0.65.

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

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.