Empowered Funds LLC Acquires Shares of 340,099 NetScout Systems, Inc. $NTCT

Empowered Funds LLC bought a new position in NetScout Systems, Inc. (NASDAQ:NTCT) during the second quarter, Holdings Channel.com reports. The institutional investor bought 340,099 shares of the technology company’s stock, valued at approximately $14,811,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in NetScout Systems in the 2nd quarter valued at about $68,000. Capstone Investment Advisors LLC purchased a new stake in shares of NetScout Systems during the 2nd quarter valued at approximately $485,000. Corient Private Wealth LP acquired a new position in NetScout Systems in the second quarter valued at approximately $1,120,000. Bank of America Corp DE acquired a new position in NetScout Systems in the second quarter valued at approximately $7,095,000. Finally, Freestone Grove Partners LP purchased a new position in NetScout Systems in the second quarter worth approximately $1,259,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Sanjay Munshi sold 2,269 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $39.27, for a total transaction of $89,103.63. Following the completion of the sale, the chief operating officer owned 6,729 shares in the company, valued at $264,247.83. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Szabados sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $37.70, for a total value of $150,800.00. Following the completion of the transaction, the director directly owned 41,654 shares of the company’s stock, valued at $1,570,355.80. This trade represents a 8.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 22,269 shares of company stock worth $869,504. Corporate insiders own 4.74% of the company’s stock.

NetScout Systems Price Performance

Shares of NASDAQ NTCT opened at $39.06 on Friday. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 23.82 and a beta of 0.69. The stock’s 50-day moving average is $40.56 and its two-hundred day moving average is $36.55. NetScout Systems, Inc. has a 1-year low of $24.27 and a 1-year high of $45.28.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.14. The business had revenue of $210.42 million during the quarter, compared to the consensus estimate of $196.17 million. NetScout Systems had a return on equity of 9.25% and a net margin of 13.71%.The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. Equities research analysts anticipate that NetScout Systems, Inc. will post 2.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NTCT shares. Zacks Research upgraded NetScout Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. Royal Bank Of Canada boosted their price objective on shares of NetScout Systems from $29.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Wall Street Zen raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised shares of NetScout Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

About NetScout Systems

NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout’s flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.

Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.