NetScout Systems (NASDAQ:NTCT) Director Sells $266,000.00 in Stock

NetScout Systems, Inc. (NASDAQ:NTCT) Director Christopher Perretta sold 7,000 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $38.00, for a total transaction of $266,000.00. Following the completion of the transaction, the director directly owned 40,866 shares of the company’s stock, valued at $1,552,908. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NetScout Systems Stock Performance

NTCT traded down $0.68 during trading on Monday, reaching $37.37. 682,731 shares of the stock were exchanged, compared to its average volume of 601,258. The stock’s 50 day moving average price is $39.80 and its two-hundred day moving average price is $37.21. NetScout Systems, Inc. has a twelve month low of $24.94 and a twelve month high of $45.28. The stock has a market cap of $2.72 billion, a P/E ratio of 22.79 and a beta of 0.69.

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

Hedge Funds Weigh In On NetScout Systems

Several large investors have recently modified their holdings of NTCT. BlackRock Inc. acquired a new stake in shares of NetScout Systems during the 2nd quarter worth about $498,027,000. Legal & General Group Plc bought a new position in NetScout Systems in the 2nd quarter valued at about $165,970,000. California State Teachers Retirement System lifted its position in NetScout Systems by 3,926.2% during the second quarter. California State Teachers Retirement System now owns 3,314,155 shares of the technology company’s stock worth $144,331,000 after acquiring an additional 3,231,841 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in NetScout Systems by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,258,974 shares of the technology company’s stock worth $135,391,000 after acquiring an additional 110,702 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of NetScout Systems by 34.6% during the fourth quarter. LSV Asset Management now owns 2,288,036 shares of the technology company’s stock worth $61,914,000 after acquiring an additional 588,022 shares during the period. 91.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NTCT. Zacks Research raised NetScout Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. Wall Street Zen raised NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings cut NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, NetScout Systems has an average rating of “Moderate Buy” and an average target price of $38.00.

About NetScout Systems

NetScout Systems, Inc (NASDAQ: NTCT) provides network monitoring, service assurance, and cybersecurity solutions for enterprises, telecommunications providers, government organizations, and other large institutions. Its technology helps customers maintain network performance, identify service disruptions, analyze application and user experience, and detect or mitigate cyberthreats.

The company’s product portfolio includes network traffic and performance monitoring platforms, packet-based visibility tools, application and service assurance software, and distributed denial-of-service (DDoS) protection solutions.