NetScout Systems, Inc. (NTCT) EVP John Downing Sells 3,000 Shares of Stock

NetScout Systems, Inc. (NASDAQ:NTCT) EVP John Downing sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total value of $84,510.00. Following the completion of the transaction, the executive vice president now owns 88,821 shares of the company’s stock, valued at approximately $2,502,087.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, October 26th. The technology company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. NetScout Systems had a net margin of 1.52% and a return on equity of 5.15%. The business had revenue of $256.90 million during the quarter, compared to analysts’ expectations of $251.13 million. During the same period in the prior year, the company earned $0.39 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year.

NetScout Systems announced that its Board of Directors has approved a share repurchase plan on Thursday, October 26th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: “NetScout Systems, Inc. (NTCT) EVP John Downing Sells 3,000 Shares of Stock” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.com-unik.info/2017/11/02/netscout-systems-inc-ntct-evp-john-downing-sells-3000-shares-of-stock.html.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of NetScout Systems by 1.5% in the second 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 during the last quarter. Franklin Resources Inc. raised its holdings in shares of NetScout Systems by 2.4% in the second quarter. Franklin Resources Inc. now owns 4,038,347 shares of the technology company’s stock valued at $138,918,000 after buying an additional 95,460 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NetScout Systems by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,941,213 shares of the technology company’s stock valued at $135,580,000 after buying an additional 799,553 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of NetScout Systems by 59.0% in the second quarter. Goldman Sachs Group Inc. now owns 3,517,277 shares of the technology company’s stock valued at $120,994,000 after buying an additional 1,305,337 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of NetScout Systems by 4.0% in the second quarter. State Street Corp now owns 3,036,287 shares of the technology company’s stock valued at $104,446,000 after buying an additional 116,515 shares during the last quarter.

A number of brokerages recently issued reports on NTCT. Zacks Investment Research lowered NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday. Royal Bank Of Canada restated a “hold” rating and issued a $33.00 target price on shares of NetScout Systems in a research note on Friday, October 27th. B. Riley restated a “buy” rating and issued a $36.00 target price on shares of NetScout Systems in a research note on Friday, October 27th. Craig Hallum reduced their target price on NetScout Systems from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, October 26th. Finally, KeyCorp reiterated a “hold” rating on shares of NetScout Systems in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. NetScout Systems presently has an average 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)

What are top analysts saying about NetScout Systems Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for NetScout Systems Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit