UBS Asset Management Americas Inc. boosted its position in shares of NetScout Systems Inc. (NASDAQ:NTCT) by 5.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 61,934 shares of the company’s stock after buying an additional 2,976 shares during the period. UBS Asset Management Americas Inc. owned about 0.07% of NetScout Systems worth $1,378,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Adirondack Research & Management Inc. purchased a new stake in NetScout Systems during the first quarter worth about $1,742,000. Geode Capital Management LLC boosted its stake in shares of NetScout Systems by 3.2% in the first quarter. Geode Capital Management LLC now owns 659,890 shares of the company’s stock worth $15,157,000 after buying an additional 20,168 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of NetScout Systems by 88.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,602,096 shares of the company’s stock worth $36,800,000 after buying an additional 751,711 shares during the period. Rockshelter Capital Management LLC boosted its stake in shares of NetScout Systems by 28.6% in the first quarter. Rockshelter Capital Management LLC now owns 309,172 shares of the company’s stock worth $7,102,000 after buying an additional 68,800 shares during the period. Finally, State Street Corp boosted its stake in shares of NetScout Systems by 6.1% in the first quarter. State Street Corp now owns 3,165,602 shares of the company’s stock worth $72,708,000 after buying an additional 182,648 shares during the period. Institutional investors and hedge funds own 98.12% of the company’s stock.
NetScout Systems Inc. (NASDAQ:NTCT) traded up 1.77% during trading on Friday, reaching $28.69. The company’s stock had a trading volume of 40,053 shares. The stock’s market cap is $2.64 billion. NetScout Systems Inc. has a 52-week low of $18.77 and a 52-week high of $40.28. The firm has a 50 day moving average price of $29.10 and a 200-day moving average price of $25.44.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ 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 positive return on equity of 5.80% and a negative net margin of 4.01%. The company’s quarterly revenue was up 167.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. On average, analysts expect that NetScout Systems Inc. will post $1.93 earnings per share for the current year.
A number of brokerages have weighed in on NTCT. B. Riley reiterated a “buy” rating and issued a $34.00 price target on shares of NetScout Systems in a research report on Wednesday, August 3rd. Pacific Crest began coverage on NetScout Systems in a report on Thursday, July 28th. They set an “overweight” rating and a $31.00 target price on the stock. Finally, Zacks Investment Research upgraded NetScout Systems from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, September 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $31.63.
In other news, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $27.64, for a total value of $138,200.00. Following the transaction, the chief operating officer now owns 35,526 shares in the company, valued at approximately $981,938.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Downing sold 1,000 shares of NetScout Systems stock in a transaction on 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 transaction, the executive vice president now owns 100,989 shares in the company, valued at approximately $2,775,177.72. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.
About NetScout Systems
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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