Insider Selling: NetScout Systems (NASDAQ:NTCT) EVP Sells $83,400.00 in Stock

NetScout Systems, Inc. (NASDAQ:NTCT) EVP John Downing sold 3,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $27.80, for a total transaction of $83,400.00. Following the completion of the transaction, the executive vice president owned 138,494 shares of the company’s stock, valued at approximately $3,850,133.20. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

NetScout Systems Stock Performance

Shares of NetScout Systems stock opened at $27.31 on Thursday. The firm has a 50-day simple moving average of $26.00 and a two-hundred day simple moving average of $23.90. The company has a market cap of $1.96 billion, a P/E ratio of 27.31 and a beta of 0.72. NetScout Systems, Inc. has a fifty-two week low of $18.12 and a fifty-two week high of $28.30.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $186.75 million during the quarter, compared to the consensus estimate of $181.50 million. NetScout Systems had a net margin of 8.72% and a return on equity of 7.47%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Equities research analysts forecast that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NTCT. B. Riley began coverage on shares of NetScout Systems in a research note on Tuesday, August 26th. They issued a “buy” rating and a $33.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of NetScout Systems in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NetScout Systems currently has an average rating of “Hold” and an average price target of $29.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTCT. Nuveen LLC acquired a new position in shares of NetScout Systems during the 1st quarter worth approximately $13,894,000. LSV Asset Management boosted its holdings in shares of NetScout Systems by 253.1% during the 1st quarter. LSV Asset Management now owns 909,855 shares of the technology company’s stock worth $19,116,000 after purchasing an additional 652,155 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of NetScout Systems by 235.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 578,608 shares of the technology company’s stock worth $14,355,000 after purchasing an additional 406,004 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of NetScout Systems during the 2nd quarter worth approximately $9,801,000. Finally, AQR Capital Management LLC boosted its holdings in shares of NetScout Systems by 63.0% during the 2nd quarter. AQR Capital Management LLC now owns 724,165 shares of the technology company’s stock worth $17,945,000 after purchasing an additional 279,847 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.