NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report) EVP John Downing sold 8,000 shares of the firm's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.29, for a total value of $322,320.00. Following the completion of the transaction, the executive vice president owned 129,121 shares in the company, valued at $5,202,285.09. The trade was a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
NetScout Systems Stock Performance
Shares of NTCT stock opened at $40.15 on Wednesday. NetScout Systems, Inc. has a fifty-two week low of $20.39 and a fifty-two week high of $43.80. The firm has a market capitalization of $2.87 billion, a P/E ratio of 30.88 and a beta of 0.68. The stock's fifty day moving average is $36.54 and its two-hundred day moving average is $31.24.
NetScout Systems (NASDAQ:NTCT - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.06. NetScout Systems had a return on equity of 8.37% and a net margin of 11.11%.The business had revenue of $203.04 million during the quarter, compared to the consensus estimate of $198.64 million. During the same period last year, the company earned $0.52 EPS. The company's revenue for the quarter was down 1.0% on a year-over-year basis. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. On average, equities analysts forecast that NetScout Systems, Inc. will post 2.06 earnings per share for the current year.
Institutional Trading of NetScout Systems
Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new stake in shares of NetScout Systems during the 3rd quarter worth about $118,440,000. JPMorgan Chase & Co. increased its position in shares of NetScout Systems by 65.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,551 shares of the technology company's stock worth $8,874,000 after purchasing an additional 136,377 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in NetScout Systems by 93.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 119,363 shares of the technology company's stock valued at $3,205,000 after acquiring an additional 57,602 shares during the period. SG Americas Securities LLC boosted its holdings in NetScout Systems by 2,546.1% during the 4th quarter. SG Americas Securities LLC now owns 449,737 shares of the technology company's stock valued at $12,170,000 after acquiring an additional 432,741 shares during the period. Finally, Leuthold Group LLC purchased a new position in NetScout Systems during the 3rd quarter valued at about $3,199,000. 91.64% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Royal Bank Of Canada raised their target price on NetScout Systems from $29.00 to $38.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. Zacks Research raised NetScout Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded NetScout Systems from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised NetScout Systems from a "hold" rating to a "buy" rating in a research note on Sunday, May 17th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $35.50.
Read Our Latest Research Report on NTCT
About NetScout Systems
(
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NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout's flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.
Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.
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