Sherbrooke Park Advisers LLC Takes Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Sherbrooke Park Advisers LLC acquired a new position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,988 shares of the technology company’s stock, valued at approximately $325,000.

Several other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in NetScout Systems by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after buying an additional 508 shares during the period. Mariner LLC raised its stake in NetScout Systems by 5.4% during the 4th quarter. Mariner LLC now owns 13,307 shares of the technology company’s stock worth $288,000 after buying an additional 681 shares during the period. New York State Common Retirement Fund raised its stake in shares of NetScout Systems by 3.4% in the 4th quarter. New York State Common Retirement Fund now owns 23,968 shares of the technology company’s stock valued at $519,000 after purchasing an additional 792 shares during the period. Captrust Financial Advisors raised its stake in shares of NetScout Systems by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 24,210 shares of the technology company’s stock valued at $524,000 after purchasing an additional 993 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of NetScout Systems by 1,214.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,263 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lifted their price target on NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st.

NetScout Systems Stock Performance

NTCT opened at $23.31 on Monday. The business’s 50-day moving average price is $20.99 and its two-hundred day moving average price is $21.93. NetScout Systems, Inc. has a 1 year low of $17.10 and a 1 year high of $27.89. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.98 and a beta of 0.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $204.99 million during the quarter, compared to analysts’ expectations of $194.80 million. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. NetScout Systems’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. Equities analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current fiscal year.

Insider Activity

In other news, COO Michael Szabados sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total value of $170,775.00. Following the completion of the transaction, the chief operating officer now owns 28,489 shares in the company, valued at $648,694.53. This trade represents a 20.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the completion of the transaction, the executive vice president now owns 130,352 shares of the company’s stock, valued at $3,161,036. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. 3.71% of the stock is owned by corporate insiders.

NetScout Systems Company Profile

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.