Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 205,477 shares of the technology company’s stock, valued at approximately $8,949,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Royal Bank of Canada lifted its stake in NetScout Systems by 23.3% during the first quarter. Royal Bank of Canada now owns 51,798 shares of the technology company’s stock valued at $1,088,000 after purchasing an additional 9,802 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NetScout Systems by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,377 shares of the technology company’s stock worth $869,000 after buying an additional 2,036 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of NetScout Systems by 17.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,420,479 shares of the technology company’s stock valued at $29,844,000 after buying an additional 207,807 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of NetScout Systems by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,284 shares of the technology company’s stock valued at $4,481,000 after buying an additional 15,112 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of NetScout Systems by 64.3% during the 1st quarter. Jane Street Group LLC now owns 348,209 shares of the technology company’s stock valued at $7,316,000 after acquiring an additional 136,253 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.
Insider Transactions at NetScout Systems
In related news, COO Sanjay Munshi sold 2,269 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $39.27, for a total transaction of $89,103.63. Following the completion of the sale, the chief operating officer owned 6,729 shares in the company, valued at $264,247.83. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Szabados sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $37.70, for a total value of $150,800.00. Following the completion of the sale, the director directly owned 41,654 shares in the company, valued at $1,570,355.80. This trade represents a 8.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 22,269 shares of company stock worth $869,504. Company insiders own 4.74% of the company’s stock.
NetScout Systems Stock Up 1.2%
NetScout Systems (NASDAQ:NTCT – Get Free Report) last posted its earnings results on Thursday, August 6th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.14. The firm had revenue of $210.42 million during the quarter, compared to analysts’ expectations of $196.17 million. NetScout Systems had a net margin of 13.71% and a return on equity of 9.25%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. On average, research analysts anticipate that NetScout Systems, Inc. will post 2.15 EPS for the current year.
Analyst Ratings Changes
NTCT has been the subject of several research reports. Weiss Ratings raised NetScout Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Royal Bank Of Canada upped their target price on NetScout Systems from $29.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Zacks Research raised NetScout Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen raised NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One analyst has 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.
View Our Latest Research Report on NetScout Systems
About NetScout Systems
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.
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