Virginia Retirement Systems ET AL bought a new stake in shares of NetScout Systems Inc. (NASDAQ:NTCT) during the second quarter, Holdings Channel reports. The fund bought 11,100 shares of the company’s stock, valued at approximately $247,000.
Several other large investors have also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its stake in shares of 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 during the period. Princeton Alpha Management LP bought a new stake in shares of NetScout Systems during the second quarter worth approximately $206,000. Strs Ohio boosted its stake in shares of 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 during the period. Jennison Associates LLC bought a new stake in shares of NetScout Systems during the second quarter worth approximately $243,000. Finally, Virginia Retirement System bought a new stake in shares of NetScout Systems during the first quarter worth approximately $264,000. 98.12% of the stock is owned by institutional investors.
NetScout Systems Inc. (NASDAQ:NTCT) opened at 28.79 on Tuesday. NetScout Systems Inc. has a 1-year low of $18.77 and a 1-year high of $40.28. The firm’s market capitalization is $2.65 billion. The firm has a 50-day moving average price of $29.20 and a 200-day moving average price of $25.38.
NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. NetScout Systems had a positive return on equity of 5.80% and a negative net margin of 4.01%. The company earned $269 million during the quarter, compared to analysts’ expectations of $273.47 million. During the same period in the prior year, the company earned $0.33 EPS. NetScout Systems’s revenue was up 167.1% compared to the same quarter last year. Equities analysts expect that NetScout Systems Inc. will post $1.93 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on NTCT shares. B. Riley reaffirmed a “buy” rating and set a $34.00 price objective on shares of NetScout Systems in a research note on Wednesday, August 3rd. Zacks Investment Research raised NetScout Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, September 28th. Finally, Pacific Crest reaffirmed a “buy” rating on shares of NetScout Systems in a research note on Monday, September 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $31.63.
In other news, EVP John Downing sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $27.48, for a total value of $27,480.00. Following the completion of the sale, the executive vice president now directly owns 100,989 shares in the company, valued at approximately $2,775,177.72. The sale was disclosed in a document filed with the SEC, which is accessible 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 value of $138,200.00. Following the completion of the sale, the chief operating officer now owns 35,526 shares of the company’s stock, valued at $981,938.64. The disclosure for this sale can be found here. 3.30% of the stock is owned by 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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