Insider Selling: NetScout Systems, Inc. (NTCT) Insider Sells 3,000 Shares of Stock

NetScout Systems, Inc. (NASDAQ:NTCT) insider John Downing sold 3,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $28.20, for a total value of $84,600.00. Following the transaction, the insider now directly owns 47,427 shares in the company, valued at approximately $1,337,441.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NetScout Systems, Inc. (NTCT) opened at $27.00 on Thursday. NetScout Systems, Inc. has a 1 year low of $25.50 and a 1 year high of $38.47. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2,360.57, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 2.59 and a beta of 1.52.

NetScout Systems (NASDAQ:NTCT) last posted its earnings results on Tuesday, January 30th. The technology company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. NetScout Systems had a return on equity of 5.34% and a net margin of 7.95%. The company had revenue of $272.00 million for the quarter, compared to the consensus estimate of $271.36 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. equities research analysts expect that NetScout Systems, Inc. will post 1.04 EPS for the current fiscal year.

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

Large investors have recently bought and sold shares of the business. Flinton Capital Management LLC raised its position in NetScout Systems by 74.5% in the second quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,968 shares during the period. First Allied Advisory Services Inc. raised its position in NetScout Systems by 515.1% in the second quarter. First Allied Advisory Services Inc. now owns 5,911 shares of the technology company’s stock valued at $200,000 after purchasing an additional 4,950 shares during the period. Stevens Capital Management LP purchased a new stake in NetScout Systems in the third quarter valued at $206,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in NetScout Systems by 170.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,591 shares of the technology company’s stock valued at $231,000 after purchasing an additional 4,788 shares during the period. Finally, Shelton Capital Management purchased a new stake in NetScout Systems in the second quarter valued at $237,000.

A number of equities analysts have weighed in on NTCT shares. Zacks Investment Research lowered NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday, November 2nd. KeyCorp reissued a “hold” rating on shares of NetScout Systems in a research note on Wednesday, October 11th. Piper Jaffray Companies started coverage on NetScout Systems in a research note on Monday, November 13th. They set an “overweight” rating and a $34.00 price objective on the stock. BidaskClub lowered NetScout Systems from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Craig Hallum lowered their price objective on NetScout Systems from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.67.

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NetScout Systems Company 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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