Mason Street Advisors LLC acquired a new stake in shares of NetScout Systems Inc. (NASDAQ:NTCT) during the second quarter, Holdings Channel reports. The fund acquired 42,757 shares of the company’s stock, valued at approximately $951,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of NTCT. Sei Investments Co. raised its stake in NetScout Systems by 219.8% in the second quarter. Sei Investments Co. now owns 5,587 shares of the company’s stock valued at $124,000 after buying an additional 3,840 shares in the last quarter. LS Investment Advisors LLC raised its stake in NetScout Systems by 64.8% in the second quarter. LS Investment Advisors LLC now owns 5,637 shares of the company’s stock valued at $125,000 after buying an additional 2,216 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in NetScout Systems during the second quarter valued at approximately $141,000. Princeton Alpha Management LP acquired a new stake in NetScout Systems during the second quarter valued at approximately $206,000. Finally, Strs Ohio raised its stake in NetScout Systems by 44.6% in the second quarter. Strs Ohio now owns 9,400 shares of the company’s stock valued at $209,000 after buying an additional 2,900 shares in the last quarter. Institutional investors and hedge funds own 98.12% of the company’s stock.
Shares of NetScout Systems Inc. (NASDAQ:NTCT) opened at 29.11 on Wednesday. The stock’s market cap is $2.68 billion. The firm has a 50-day moving average of $29.01 and a 200-day moving average of $24.86. NetScout Systems Inc. has a 52-week low of $18.77 and a 52-week high of $40.28.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm earned $269 million during the quarter, compared to analysts’ expectations of $273.47 million. NetScout Systems had a negative net margin of 4.01% and a positive return on equity of 5.80%. The company’s quarterly revenue was up 167.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. On average, equities analysts expect that NetScout Systems Inc. will post $1.93 EPS for the current fiscal year.
Several research firms recently commented on NTCT. B. Riley reissued a “buy” rating and set a $34.00 target price on shares of NetScout Systems in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Wednesday. Finally, Pacific Crest restated a “buy” rating on shares of NetScout Systems in a research report on Monday, September 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.63.
In other NetScout Systems news, EVP John Downing sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $27.48, for a total value of $27,480.00. Following the completion of the sale, the executive vice president now owns 100,989 shares in the company, valued at approximately $2,775,177.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Szabados sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $27.64, for a total transaction of $138,200.00. Following the completion of the sale, the chief operating officer now owns 35,526 shares of the company’s stock, valued at approximately $981,938.64. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by company insiders.
NetScout Systems Company Profile
NetScout Systems, Inc is a provider of network, application and service assurance solutions. The Company provides performance analytics that help enterprise, government and service provider customers manage service delivery and identify emerging performance problems. The Company designs, develops, manufactures, markets, licenses, sells and supports the products in hardware and software solutions that are used by commercial enterprises, governmental agencies and telecommunication service providers.
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