NetScout Systems, Inc. (NTCT) Insider John Downing Sells 3,000 Shares

NetScout Systems, Inc. (NASDAQ:NTCT) insider John Downing sold 3,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $28.20, for a total transaction of $84,600.00. Following the transaction, the insider now directly owns 47,427 shares of the company’s stock, valued at $1,337,441.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of NetScout Systems, Inc. (NASDAQ:NTCT) traded down $1.00 during mid-day trading on Monday, hitting $26.95. 2,003,667 shares of the company were exchanged, compared to its average volume of 1,778,840. The stock has a market cap of $2,420.00, a PE ratio of 27.78, a P/E/G ratio of 2.68 and a beta of 1.52. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.13. NetScout Systems, Inc. has a 12 month low of $25.50 and a 12 month high of $38.47.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. The company had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $271.36 million. NetScout Systems had a net margin of 7.95% and a return on equity of 5.34%. NetScout Systems’s revenue was down 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. sell-side analysts anticipate that NetScout Systems, Inc. will post 1.04 EPS for the current fiscal year.

NetScout Systems announced that its Board of Directors has approved a share buyback plan on Thursday, October 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Several hedge funds have recently made changes to their positions in NTCT. Thrivent Financial For Lutherans lifted its stake in shares of NetScout Systems by 7.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 18,510 shares of the technology company’s stock valued at $637,000 after buying an additional 1,260 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of NetScout Systems by 3.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 52,519 shares of the technology company’s stock valued at $1,807,000 after buying an additional 1,932 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of NetScout Systems by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,226,097 shares of the technology company’s stock valued at $248,578,000 after buying an additional 107,494 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in NetScout Systems by 3.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 105,657 shares of the technology company’s stock worth $3,635,000 after purchasing an additional 3,474 shares in the last quarter. Finally, Virtu KCG Holdings LLC lifted its stake in NetScout Systems by 24.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 17,680 shares of the technology company’s stock worth $608,000 after purchasing an additional 3,526 shares in the last quarter.

A number of research analysts have recently weighed in on the stock. Craig Hallum set a $23.00 target price on shares of NetScout Systems and gave the company a “hold” rating in a research report on Wednesday, January 10th. DA Davidson downgraded shares of NetScout Systems from a “buy” rating to a “neutral” rating and reduced their target price for the company from $37.00 to $27.00 in a research report on Wednesday, January 10th. Royal Bank of Canada reissued a “hold” rating on shares of NetScout Systems in a research report on Tuesday, January 30th. B. Riley increased their target price on shares of NetScout Systems from $28.50 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.67.

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NetScout Systems Company Profile

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.

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