Wolverine Trading LLC Buys 13,121 Shares of NetScout Systems, Inc. (NTCT)
Wolverine Trading LLC increased its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 504.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,521 shares of the technology company’s stock after purchasing an additional 13,121 shares during the quarter. Wolverine Trading LLC’s holdings in NetScout Systems were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. AXA increased its position in NetScout Systems by 371.7% during the 1st quarter. AXA now owns 50,000 shares of the technology company’s stock worth $1,898,000 after purchasing an additional 39,400 shares in the last quarter. Airain ltd purchased a new stake in NetScout Systems during the 2nd quarter worth about $1,239,000. Ameriprise Financial Inc. increased its position in NetScout Systems by 0.4% during the 1st quarter. Ameriprise Financial Inc. now owns 352,345 shares of the technology company’s stock worth $13,372,000 after purchasing an additional 1,576 shares in the last quarter. B. Riley Financial Inc. increased its position in NetScout Systems by 68.4% during the 1st quarter. B. Riley Financial Inc. now owns 13,094 shares of the technology company’s stock worth $497,000 after purchasing an additional 5,320 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in NetScout Systems during the 1st quarter worth about $1,429,000.
A number of analysts recently commented on the company. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. B. Riley reiterated a “buy” rating and set a $44.00 price objective on shares of NetScout Systems in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of NetScout Systems in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $40.33.
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In other news, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total transaction of $173,000.00. Following the completion of the sale, the insider now directly owns 39,170 shares of the company’s stock, valued at $1,355,282. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.51% of the company’s stock.
NetScout Systems, Inc. (NTCT) traded down 0.76% during mid-day trading on Thursday, reaching $32.85. The company had a trading volume of 240,518 shares. The firm has a market capitalization of $2.94 billion, a P/E ratio of 166.75 and a beta of 1.62. NetScout Systems, Inc. has a 12 month low of $26.25 and a 12 month high of $38.47. The stock’s 50-day moving average is $32.98 and its 200 day moving average is $35.28.
NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, July 27th. The technology company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The business had revenue of $225.80 million during the quarter, compared to the consensus estimate of $225.66 million. During the same period in the prior year, the business posted $0.28 earnings per share. NetScout Systems’s revenue was down 16.1% compared to the same quarter last year. On average, analysts predict that NetScout Systems, Inc. will post $2.06 earnings per share for the current fiscal year.
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.
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