Hsbc Holdings PLC Sells 21,458 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Hsbc Holdings PLC reduced its holdings in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 43.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,760 shares of the technology company's stock after selling 21,458 shares during the quarter. Hsbc Holdings PLC's holdings in NetScout Systems were worth $600,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in NetScout Systems by 1,214.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company's stock worth $30,000 after buying an additional 1,263 shares in the last quarter. Sterling Capital Management LLC grew its position in NetScout Systems by 811.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock worth $48,000 after buying an additional 1,973 shares in the last quarter. PNC Financial Services Group Inc. grew its position in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company's stock worth $76,000 after buying an additional 508 shares in the last quarter. KBC Group NV grew its position in 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. Finally, Inceptionr LLC acquired a new stake in NetScout Systems during the fourth quarter worth about $221,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their target price on NetScout Systems from $22.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st.

Insider Activity at NetScout Systems

In other NetScout Systems news, insider Jean A. Bua sold 11,999 shares of NetScout Systems stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $23.92, for a total value of $287,016.08. Following the completion of the transaction, the insider now owns 71,361 shares in the company, valued at approximately $1,706,955.12. The trade was a 14.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the completion of the transaction, the executive vice president now owns 130,352 shares of the company's stock, valued at approximately $3,161,036. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. 3.71% of the stock is owned by insiders.

NetScout Systems Price Performance

Shares of NetScout Systems stock traded up $0.05 during midday trading on Friday, hitting $21.61. 528,387 shares of the company were exchanged, compared to its average volume of 539,203. The firm has a 50 day simple moving average of $20.81 and a 200-day simple moving average of $21.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78. The firm has a market cap of $1.55 billion, a P/E ratio of -3.69 and a beta of 0.62. NetScout Systems, Inc. has a 52 week low of $17.10 and a 52 week high of $27.89.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.52 EPS for the quarter, meeting the consensus estimate 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%. NetScout Systems's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. Research analysts forecast that NetScout Systems, Inc. will post 1.5 earnings per share for the current 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.