Wells Fargo & Company MN Increases Stock Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Wells Fargo & Company MN lifted its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 25.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,913 shares of the technology company’s stock after buying an additional 8,826 shares during the period. Wells Fargo & Company MN owned about 0.06% of NetScout Systems worth $951,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after buying an additional 508 shares during the period. KBC Group NV boosted its holdings in shares of NetScout Systems by 45.1% in the 4th quarter. KBC Group NV now owns 4,498 shares of the technology company’s stock valued at $97,000 after buying an additional 1,398 shares during the period. Inceptionr LLC acquired a new stake in shares of NetScout Systems in the 4th quarter worth about $221,000. KLP Kapitalforvaltning AS acquired a new stake in NetScout Systems in the fourth quarter worth about $297,000. Finally, World Investment Advisors LLC bought a new position in NetScout Systems during the third quarter valued at about $298,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NetScout Systems Stock Performance

Shares of NTCT opened at $21.22 on Wednesday. NetScout Systems, Inc. has a one year low of $17.10 and a one year high of $27.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.78. The company has a market capitalization of $1.52 billion, a PE ratio of -3.62 and a beta of 0.66. The company’s fifty day moving average price is $21.05 and its 200 day moving average price is $21.86.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. As a group, analysts expect that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jean A. Bua sold 11,999 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $23.92, for a total value of $287,016.08. Following the completion of the transaction, the insider now owns 71,361 shares of the company’s stock, valued at $1,706,955.12. The trade was a 14.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Szabados sold 6,500 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total transaction of $152,555.00. Following the completion of the sale, the chief operating officer now directly owns 35,989 shares in the company, valued at $844,661.83. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,499 shares of company stock worth $512,321 in the last quarter. Insiders own 3.71% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada increased their target price on NetScout Systems from $22.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, January 31st.

NetScout Systems Profile

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.