HITE Hedge Asset Management LLC Cuts Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

HITE Hedge Asset Management LLC lessened its stake in NetScout Systems, Inc. (NASDAQ:NTCTGet Rating) by 21.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 6,796 shares of the technology company’s stock after selling 1,838 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in NetScout Systems were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTCT. Bank of America Corp DE grew its stake in NetScout Systems by 70.6% in the 4th quarter. Bank of America Corp DE now owns 142,543 shares of the technology company’s stock worth $4,715,000 after buying an additional 58,966 shares in the last quarter. Principal Financial Group Inc. grew its stake in NetScout Systems by 98.8% in the 4th quarter. Principal Financial Group Inc. now owns 497,663 shares of the technology company’s stock worth $16,462,000 after buying an additional 247,327 shares in the last quarter. Teacher Retirement System of Texas grew its stake in NetScout Systems by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 14,388 shares of the technology company’s stock worth $476,000 after buying an additional 2,551 shares in the last quarter. Panagora Asset Management Inc. grew its stake in NetScout Systems by 9.4% in the 4th quarter. Panagora Asset Management Inc. now owns 47,133 shares of the technology company’s stock worth $1,559,000 after buying an additional 4,048 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of NetScout Systems by 16.3% in the 4th quarter. Citigroup Inc. now owns 218,842 shares of the technology company’s stock valued at $7,240,000 after purchasing an additional 30,678 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

NetScout Systems Trading Up 9.4 %

NASDAQ:NTCT opened at $33.60 on Tuesday. The company has a fifty day moving average of $32.86 and a 200 day moving average of $32.99. NetScout Systems, Inc. has a 52 week low of $26.01 and a 52 week high of $37.68. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2.40 billion, a P/E ratio of 61.09, a P/E/G ratio of 4.59 and a beta of 0.63.

NetScout Systems (NASDAQ:NTCTGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. NetScout Systems had a net margin of 4.71% and a return on equity of 4.85%. The company had revenue of $208.80 million during the quarter, compared to analyst estimates of $204.25 million. During the same period in the prior year, the business posted $0.05 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts predict that NetScout Systems, Inc. will post 1.34 earnings per share for the current year.

Insider Activity at NetScout Systems

In other NetScout Systems news, COO Michael Szabados sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $33.89, for a total value of $254,175.00. Following the completion of the transaction, the chief operating officer now directly owns 40,310 shares in the company, valued at approximately $1,366,105.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NetScout Systems news, EVP John Downing sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $33.67, for a total value of $101,010.00. Following the completion of the transaction, the executive vice president now directly owns 116,086 shares in the company, valued at approximately $3,908,615.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Szabados sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $33.89, for a total transaction of $254,175.00. Following the completion of the transaction, the chief operating officer now owns 40,310 shares of the company’s stock, valued at $1,366,105.90. The disclosure for this sale can be found here. 3.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NTCT has been the subject of a number of research reports. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 2nd. Piper Sandler cut shares of NetScout Systems from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $35.00 to $33.00 in a research note on Tuesday, May 31st.

NetScout Systems Company Profile

(Get Rating)

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.

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Institutional Ownership by Quarter for NetScout Systems (NASDAQ:NTCT)

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