Vanguard Group Inc. grew its holdings in NetScout Systems, Inc. (NASDAQ:NTCT) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,226,097 shares of the technology company’s stock after purchasing an additional 107,494 shares during the quarter. Vanguard Group Inc. owned approximately 7.93% of NetScout Systems worth $248,578,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Seven Bridges Advisors LLC acquired a new stake in shares of NetScout Systems in the second quarter valued at approximately $109,000. Bank of Montreal Can grew its position in shares of NetScout Systems by 8.9% in the second quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock valued at $113,000 after purchasing an additional 271 shares during the last quarter. Riverhead Capital Management LLC grew its position in shares of NetScout Systems by 77.9% in the second quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock valued at $177,000 after purchasing an additional 2,258 shares during the last quarter. Juncture Wealth Strategies LLC acquired a new stake in shares of NetScout Systems in the second quarter valued at approximately $216,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of NetScout Systems in the first quarter valued at approximately $220,000.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $225.80 million for the quarter, compared to the consensus estimate of $225.66 million. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The firm’s quarterly revenue was down 16.1% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share.
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In other news, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.60, for a total value of $173,000.00. Following the transaction, the insider now directly owns 39,170 shares of the company’s stock, valued at $1,355,282. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.51% of the company’s stock.
Several research firms have recently commented on NTCT. BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of NetScout Systems in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of NetScout Systems in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.50.
NetScout Systems Company Profile
NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.
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