XTX Topco Ltd Purchases Shares of 17,402 NetScout Systems, Inc. (NASDAQ:NTCT)

Key Points

• XTX Topco Ltd has invested $366,000 in NetScout Systems by acquiring 17,402 shares in the first quarter, indicating growing institutional interest in the company.
• Other hedge funds have also increased their stakes in NetScout, with GSA Capital Partners lifting its position by 149.7% during the same period.
• NetScout reported a 6.9% revenue increase year-over-year, achieving earnings of $0.34 per share, which exceeded analysts' expectations.

XTX Topco Ltd purchased a new stake in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,402 shares of the technology company's stock, valued at approximately $366,000.

Several other large investors have also modified their holdings of the business. GSA Capital Partners LLP increased its holdings in NetScout Systems by 149.7% during the 1st quarter. GSA Capital Partners LLP now owns 40,328 shares of the technology company's stock worth $847,000 after purchasing an additional 24,176 shares during the period. Federated Hermes Inc. increased its holdings in shares of NetScout Systems by 9.6% in the 1st quarter. Federated Hermes Inc. now owns 172,289 shares of the technology company's stock valued at $3,620,000 after acquiring an additional 15,043 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of NetScout Systems by 14.9% in the 1st quarter. Mackenzie Financial Corp now owns 139,643 shares of the technology company's stock valued at $2,934,000 after acquiring an additional 18,148 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of NetScout Systems by 252.6% in the 1st quarter. KLP Kapitalforvaltning AS now owns 48,300 shares of the technology company's stock valued at $1,015,000 after acquiring an additional 34,600 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NetScout Systems in the 1st quarter valued at about $1,634,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Insider Activity at NetScout Systems

In other news, EVP John Downing sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was 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 directly owned 127,352 shares of the company's stock, valued at $2,988,951.44. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph G. Hadzima, Jr. sold 3,500 shares of NetScout Systems stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $23.85, for a total value of $83,475.00. Following the transaction, the director directly owned 127,798 shares of the company's stock, valued at approximately $3,047,982.30. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.82% of the stock is owned by company insiders.

NetScout Systems Price Performance

Shares of NTCT traded down $0.81 during mid-day trading on Thursday, reaching $22.36. The company's stock had a trading volume of 177,468 shares, compared to its average volume of 512,558. NetScout Systems, Inc. has a 12-month low of $18.12 and a 12-month high of $27.89. The stock has a market cap of $1.61 billion, a PE ratio of 22.38 and a beta of 0.65. The company's 50 day moving average is $23.11 and its 200 day moving average is $22.42.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.05. NetScout Systems had a return on equity of 7.47% and a net margin of 8.72%. The firm had revenue of $186.75 million for the quarter, compared to the consensus estimate of $181.50 million. During the same quarter last year, the business posted $0.28 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

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.