NetScout Systems, Inc. (NTCT) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 17.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,924 shares of the technology company’s stock after purchasing an additional 2,939 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in NetScout Systems were worth $645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NTCT. Turtle Creek Asset Management Inc. grew its stake in shares of NetScout Systems by 59.7% in the third quarter. Turtle Creek Asset Management Inc. now owns 3,073,380 shares of the technology company’s stock worth $99,424,000 after acquiring an additional 1,148,671 shares in the last quarter. Royce & Associates LP grew its stake in shares of NetScout Systems by 25.3% in the third quarter. Royce & Associates LP now owns 257,700 shares of the technology company’s stock worth $8,337,000 after acquiring an additional 52,100 shares in the last quarter. B. Riley Financial Inc. grew its stake in shares of NetScout Systems by 118.2% in the third quarter. B. Riley Financial Inc. now owns 38,196 shares of the technology company’s stock worth $1,244,000 after acquiring an additional 20,693 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of NetScout Systems by 7.7% in the third quarter. OxFORD Asset Management LLP now owns 90,609 shares of the technology company’s stock worth $2,954,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of NetScout Systems by 8.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,256,839 shares of the technology company’s stock worth $137,710,000 after acquiring an additional 315,626 shares in the last quarter.

In related news, EVP John Downing sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total value of $84,510.00. Following the completion of the sale, the executive vice president now directly owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total transaction of $140,950.00. Following the completion of the sale, the insider now directly owns 43,424 shares of the company’s stock, valued at $1,224,122.56. The disclosure for this sale can be found here. Insiders own 3.51% of the company’s stock.

NTCT has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank of Canada reiterated a “hold” rating and set a $35.00 target price on shares of NetScout Systems in a research note on Monday, September 4th. KeyCorp reiterated a “hold” rating on shares of NetScout Systems in a research note on Wednesday, October 11th. Craig Hallum lowered their target price on shares of 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, B. Riley reiterated a “buy” rating and set a $36.00 target price on shares of NetScout Systems in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $33.20.

NetScout Systems, Inc. (NASDAQ:NTCT) opened at $31.55 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.60. The company has a market cap of $2,770.00, a price-to-earnings ratio of 175.28, a P/E/G ratio of 1.87 and a beta of 1.59. NetScout Systems, Inc. has a 12 month low of $27.65 and a 12 month high of $38.47.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, October 26th. The technology company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. NetScout Systems had a net margin of 1.52% and a return on equity of 5.15%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. analysts expect that NetScout Systems, Inc. will post 1.59 EPS for the current year.

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

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NetScout Systems 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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Institutional Ownership by Quarter for NetScout Systems (NASDAQ:NTCT)

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