NetScout Systems, Inc. (NASDAQ:NTCT) EVP John Downing sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total transaction of $84,510.00. Following the transaction, the executive vice president now owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 EPS.

NetScout Systems declared that its board has initiated a stock repurchase program on Thursday, October 26th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/11/01/john-downing-sells-3000-shares-of-netscout-systems-inc-ntct-stock.html.

Several large investors have recently added to or reduced their stakes in NTCT. Vanguard Group Inc. raised its stake in NetScout Systems by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,226,097 shares of the technology company’s stock valued at $248,578,000 after purchasing an additional 107,494 shares during the last quarter. Franklin Resources Inc. raised its stake in NetScout Systems by 2.4% in the 2nd quarter. Franklin Resources Inc. now owns 4,038,347 shares of the technology company’s stock valued at $138,918,000 after purchasing an additional 95,460 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in NetScout Systems by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,941,213 shares of the technology company’s stock valued at $135,580,000 after purchasing an additional 799,553 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in NetScout Systems by 59.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,517,277 shares of the technology company’s stock valued at $120,994,000 after purchasing an additional 1,305,337 shares during the last quarter. Finally, State Street Corp raised its stake in NetScout Systems by 4.0% in the 2nd quarter. State Street Corp now owns 3,036,287 shares of the technology company’s stock valued at $104,446,000 after purchasing an additional 116,515 shares during the last quarter.

NTCT has been the subject of a number of research analyst reports. BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada restated a “hold” rating and set a $35.00 price objective on shares of NetScout Systems in a research report on Monday, September 4th. KeyCorp restated a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Finally, Craig Hallum reduced their price objective on shares of NetScout Systems from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.00.

About NetScout Systems

NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.

Insider Buying and Selling by Quarter for NetScout Systems (NASDAQ:NTCT)

Receive News & Ratings for NetScout Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetScout Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.