NetScout Systems Inc. (NASDAQ:NTCT) shares shot up 5% during mid-day trading on Friday . The company traded as high as $23.19 and last traded at $23.17, with a volume of 246,492 shares traded. The stock had previously closed at $22.06.

NTCT has been the subject of a number of analyst reports. Zacks Investment Research downgraded NetScout Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. B. Riley restated a “buy” rating and issued a $33.00 price target on shares of NetScout Systems in a research note on Thursday, May 12th. Finally, Royal Bank Of Canada initiated coverage on NetScout Systems in a research note on Tuesday, April 12th. They issued an “outperform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. NetScout Systems has a consensus rating of “Hold” and a consensus price target of $33.25.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. During the same period in the previous year, the business posted $0.67 EPS. The company had revenue of $285.88 million for the quarter, compared to analyst estimates of $302.65 million. The firm’s quarterly revenue was up 139.4% compared to the same quarter last year.

In other NetScout Systems news, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $23.08, for a total value of $115,400.00. Following the completion of the transaction, the chief operating officer now owns 40,526 shares of the company’s stock, valued at $935,340.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

A number of institutional investors have added to or reduced their stakes in the company. Oxford Asset Management acquired a new position in NetScout Systems during the fourth quarter worth approximately $1,183,000. Numeric Investors LLC acquired a new position in NetScout Systems during the fourth quarter worth approximately $1,170,000. State Board of Administration of Florida Retirement System increased its position in NetScout Systems by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 40,593 shares of the company’s stock worth $1,246,000 after buying an additional 435 shares in the last quarter. Trexquant Investment LP acquired a new position in NetScout Systems during the fourth quarter worth approximately $1,385,000. Finally, Eagle Asset Management Inc. acquired a new position in NetScout Systems during the fourth quarter worth approximately $1,429,000.

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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