NetScout Systems (NASDAQ:NTCT) Stock Price Down 2.3% – Here’s Why

NetScout Systems, Inc. (NASDAQ:NTCT) shares traded down 2.3% on Friday . The company traded as low as $21.31 and last traded at $21.24. 20,702 shares changed hands during trading, a decline of 96% from the average session volume of 501,526 shares. The stock had previously closed at $21.74.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NTCT shares. StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, January 31st.

NetScout Systems Trading Down 2.7 %

The stock has a market cap of $1.52 billion, a P/E ratio of -3.60 and a beta of 0.64. The firm’s 50 day simple moving average is $22.71 and its two-hundred day simple moving average is $21.91. 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) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. As a group, equities research analysts predict that NetScout Systems, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Transactions at NetScout Systems

In related news, EVP John Downing sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 130,352 shares of the company’s stock, valued at $3,161,036. This represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total value of $152,555.00. Following the completion of the sale, the chief operating officer now owns 35,989 shares in the company, valued at approximately $844,661.83. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,499 shares of company stock worth $512,321. Insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On NetScout Systems

Large investors have recently bought and sold shares of the stock. Natixis Advisors LLC increased its stake in shares of NetScout Systems by 2.2% during the third quarter. Natixis Advisors LLC now owns 28,296 shares of the technology company’s stock valued at $615,000 after acquiring an additional 606 shares during the period. Quest Partners LLC boosted its stake in NetScout Systems by 91.0% during the 3rd quarter. Quest Partners LLC now owns 7,613 shares of the technology company’s stock valued at $166,000 after purchasing an additional 3,627 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of NetScout Systems in the 3rd quarter worth $456,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of NetScout Systems by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,165,443 shares of the technology company’s stock valued at $25,348,000 after buying an additional 108,258 shares during the period. Finally, Citigroup Inc. boosted its stake in NetScout Systems by 28.4% during the third quarter. Citigroup Inc. now owns 163,272 shares of the technology company’s stock valued at $3,551,000 after buying an additional 36,075 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

About NetScout Systems

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.