Insider Selling: NetScout Systems (NASDAQ:NTCT) EVP Sells $322,320.00 in Stock

NetScout Systems, Inc. (NASDAQ:NTCTGet Free Report) EVP John Downing sold 8,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $40.29, for a total transaction of $322,320.00. Following the transaction, the executive vice president directly owned 129,121 shares of the company’s stock, valued at $5,202,285.09. This represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NetScout Systems Stock Up 4.4%

NASDAQ NTCT opened at $42.09 on Friday. The stock has a market cap of $3.01 billion, a P/E ratio of 32.38 and a beta of 0.68. The company’s 50-day simple moving average is $36.93 and its 200 day simple moving average is $31.46. NetScout Systems, Inc. has a twelve month low of $20.39 and a twelve month high of $43.80.

NetScout Systems (NASDAQ:NTCTGet Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. The business had revenue of $203.04 million for the quarter, compared to analysts’ expectations of $198.64 million. NetScout Systems had a net margin of 11.11% and a return on equity of 8.37%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. Research analysts anticipate that NetScout Systems, Inc. will post 2.06 earnings per share for the current year.

Institutional Trading of NetScout Systems

Hedge funds have recently modified their holdings of the company. IFP Advisors Inc increased its holdings in shares of NetScout Systems by 147.2% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the technology company’s stock worth $27,000 after buying an additional 602 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of NetScout Systems by 92.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,290 shares of the technology company’s stock worth $35,000 after buying an additional 621 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of NetScout Systems during the third quarter worth approximately $35,000. Global Retirement Partners LLC acquired a new stake in shares of NetScout Systems during the fourth quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of NetScout Systems by 1,936.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the technology company’s stock valued at $50,000 after purchasing an additional 1,917 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of NetScout Systems from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Weiss Ratings cut shares of NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Royal Bank Of Canada upped their target price on shares of NetScout Systems from $29.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Zacks Research raised shares of NetScout Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NetScout Systems has an average rating of “Buy” and an average target price of $35.50.

Read Our Latest Stock Analysis on NTCT

About NetScout Systems

(Get Free Report)

NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout’s flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.

Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.

See Also

Insider Buying and Selling by Quarter for NetScout Systems (NASDAQ:NTCT)

Receive News & Ratings for NetScout Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetScout Systems and related companies with MarketBeat.com's FREE daily email newsletter.