NetScout Systems, Inc. (NTCT) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lifted its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 59.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,517,277 shares of the technology company’s stock after purchasing an additional 1,305,337 shares during the quarter. Goldman Sachs Group Inc. owned about 3.93% of NetScout Systems worth $120,994,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. AXA lifted its holdings in shares of NetScout Systems by 371.7% during the first quarter. AXA now owns 50,000 shares of the technology company’s stock worth $1,898,000 after purchasing an additional 39,400 shares during the period. Airain ltd purchased a new stake in NetScout Systems in the second quarter valued at approximately $1,239,000. Ameriprise Financial Inc. increased its holdings in NetScout Systems by 0.4% in the 1st quarter. Ameriprise Financial Inc. now owns 352,345 shares of the technology company’s stock worth $13,372,000 after buying an additional 1,576 shares during the period. Karp Capital Management Corp acquired a new position in NetScout Systems in the 1st quarter worth approximately $1,429,000. Finally, Credit Suisse AG increased its holdings in NetScout Systems by 666.0% in the 1st quarter. Credit Suisse AG now owns 694,890 shares of the technology company’s stock worth $26,371,000 after buying an additional 604,179 shares during the period.
A number of equities analysts have issued reports on the stock. B. Riley reissued a “buy” rating and set a $44.00 price target on shares of NetScout Systems in a research report on Friday, July 28th. BidaskClub cut shares of NetScout Systems from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of NetScout Systems from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $35.00 price objective on shares of NetScout Systems in a report on Monday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. NetScout Systems presently has an average rating of “Hold” and an average target price of $40.33.
NetScout Systems, Inc. (NASDAQ:NTCT) traded up 0.30% during trading on Tuesday, hitting $33.25. The company’s stock had a trading volume of 56,399 shares. The firm has a market cap of $2.98 billion, a PE ratio of 168.78 and a beta of 1.60. NetScout Systems, Inc. has a one year low of $26.25 and a one year high of $38.47. The company has a 50-day moving average of $32.68 and a 200 day moving average of $34.99.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The firm had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $225.66 million. During the same quarter in the prior year, the business earned $0.28 EPS. NetScout Systems’s quarterly revenue was down 16.1% compared to the same quarter last year. On average, equities analysts forecast that NetScout Systems, Inc. will post $2.06 earnings per share for the current year.
In other news, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total value of $173,000.00. Following the completion of the sale, the insider now directly owns 39,170 shares of the company’s stock, valued at $1,355,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.51% of the company’s stock.
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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