Amalgamated Bank Has $429,000 Stock Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Amalgamated Bank reduced its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 3.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,396 shares of the technology company’s stock after selling 668 shares during the period. Amalgamated Bank’s holdings in NetScout Systems were worth $429,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in NetScout Systems by 1,214.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,263 shares in the last quarter. Sterling Capital Management LLC increased its holdings in NetScout Systems by 811.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,973 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in NetScout Systems during the 4th quarter worth approximately $71,000. PNC Financial Services Group Inc. increased its holdings in NetScout Systems by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after purchasing an additional 508 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of NetScout Systems in the first quarter valued at approximately $216,000. 91.64% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $23.85, for a total value of $83,475.00. Following the completion of the transaction, the director directly owned 127,798 shares of the company’s stock, valued at $3,047,982.30. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Downing sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $23.47, for a total value of $70,410.00. Following the completion of the transaction, the executive vice president directly owned 127,352 shares of the company’s stock, valued at approximately $2,988,951.44. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $324,660 over the last three months. Corporate insiders own 3.71% of the company’s stock.

NetScout Systems Stock Down 5.5%

NTCT stock opened at $22.51 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of -4.37 and a beta of 0.65. The business has a 50 day moving average of $23.39 and a 200-day moving average of $22.40. NetScout Systems, Inc. has a 12-month low of $17.95 and a 12-month high of $27.89.

NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $204.99 million during the quarter, compared to analyst estimates of $194.80 million. NetScout Systems had a positive return on equity of 7.37% and a negative net margin of 44.60%. NetScout Systems’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, research analysts expect that NetScout Systems, Inc. will post 1.5 earnings per share for the current year.

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.