Public Employees Retirement Association of Colorado Decreases Position in NetScout Systems Inc. (NTCT)
Public Employees Retirement Association of Colorado cut its stake in shares of NetScout Systems Inc. (NASDAQ:NTCT) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 288,694 shares of the company’s stock after selling 2,371 shares during the period. Public Employees Retirement Association of Colorado’s holdings in NetScout Systems were worth $6,423,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of NTCT. LS Investment Advisors LLC increased 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 worth $125,000 after buying an additional 2,216 shares in the last quarter. Strs Ohio increased its stake in NetScout Systems by 44.6% in the second quarter. Strs Ohio now owns 9,400 shares of the company’s stock worth $209,000 after buying an additional 2,900 shares in the last quarter. Virginia Retirement System bought a new stake in NetScout Systems during the first quarter worth approximately $264,000. Eachwin Capital LP bought a new stake in NetScout Systems during the first quarter worth approximately $356,000. Finally, Magnetar Financial LLC increased its stake in NetScout Systems by 30.4% in the first quarter. Magnetar Financial LLC now owns 16,904 shares of the company’s stock worth $388,000 after buying an additional 3,945 shares in the last quarter. 98.12% of the stock is currently owned by institutional investors and hedge funds.
NetScout Systems Inc. (NASDAQ:NTCT) traded down 0.17% during trading on Tuesday, hitting $29.00. 567,302 shares of the stock were exchanged. The firm’s market cap is $2.67 billion. NetScout Systems Inc. has a 12-month low of $18.77 and a 12-month high of $40.28. The stock’s 50-day moving average price is $29.03 and its 200-day moving average price is $25.61.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. NetScout Systems had a negative net margin of 4.01% and a positive return on equity of 5.80%. The business had revenue of $269 million for the quarter, compared to analysts’ expectations of $273.47 million. During the same quarter last year, the company earned $0.33 EPS. The company’s revenue for the quarter was up 167.1% compared to the same quarter last year. On average, equities analysts expect that NetScout Systems Inc. will post $1.93 EPS for the current year.
A number of analysts recently commented on the stock. Zacks Investment Research raised shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, September 28th. Pacific Crest reissued a “buy” rating on shares of NetScout Systems in a report on Monday, September 12th. Finally, B. Riley reissued a “buy” rating and set a $34.00 price objective on shares of NetScout Systems in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price 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 transaction of $27,480.00. Following the transaction, the executive vice president now owns 100,989 shares of the company’s stock, valued at approximately $2,775,177.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the chief operating officer now directly owns 35,526 shares in the company, valued at approximately $981,938.64. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by corporate 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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