NetScout Systems, Inc. (NTCT) EVP Sells $84,510.00 in Stock
NetScout Systems, Inc. (NASDAQ:NTCT) EVP John Downing sold 3,000 shares of the company’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 transaction, the executive vice president now directly owns 88,821 shares in the company, valued at approximately $2,502,087.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NetScout Systems, Inc. (NASDAQ:NTCT) opened at $29.10 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.60 and a quick ratio of 1.51. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.71 and a beta of 1.57.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The firm had revenue of $256.90 million for the quarter, compared to analyst estimates of $251.13 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. equities research analysts anticipate that NetScout Systems, Inc. will post 1.59 earnings per share for the current fiscal year.
NetScout Systems declared that its board has authorized a stock repurchase plan on Thursday, October 26th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
NTCT has been the topic of several research reports. BidaskClub raised NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $35.00 price target on shares of NetScout Systems in a research note on Monday, September 4th. Zacks Investment Research lowered NetScout Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. KeyCorp reaffirmed a “hold” rating on shares of NetScout Systems in a research note on Wednesday, October 11th. Finally, Craig Hallum cut their price target 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. NetScout Systems has an average rating of “Hold” and an average price target of $33.00.
A number of large investors have recently added to or reduced their stakes in NTCT. Goldman Sachs Group Inc. lifted its stake in 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 period. Dimensional Fund Advisors LP raised its position in shares of NetScout Systems by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,941,213 shares of the technology company’s stock worth $135,580,000 after purchasing an additional 799,553 shares during the period. SQN Investors LP acquired a new stake in shares of NetScout Systems during the second quarter worth about $16,269,000. Koch Industries Inc. acquired a new stake in shares of NetScout Systems during the second quarter worth about $368,000. Finally, Vanguard Group Inc. raised its position in shares of NetScout Systems by 4.3% during the first quarter. Vanguard Group Inc. now owns 7,118,603 shares of the technology company’s stock worth $270,151,000 after purchasing an additional 295,917 shares during the period.
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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