BlackRock Inc. Boosts Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

BlackRock Inc. grew its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 6.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,196,827 shares of the technology company’s stock after purchasing an additional 516,632 shares during the period. BlackRock Inc. owned approximately 0.13% of NetScout Systems worth $258,982,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NetScout Systems during the fourth quarter valued at approximately $25,484,000. ETF Managers Group LLC raised its stake in shares of NetScout Systems by 20.3% during the fourth quarter. ETF Managers Group LLC now owns 852,251 shares of the technology company’s stock valued at $23,283,000 after purchasing an additional 143,991 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of NetScout Systems by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 765,180 shares of the technology company’s stock valued at $20,982,000 after purchasing an additional 13,933 shares during the period. JPMorgan Chase & Co. raised its stake in shares of NetScout Systems by 173.2% during the fourth quarter. JPMorgan Chase & Co. now owns 406,770 shares of the technology company’s stock valued at $11,155,000 after purchasing an additional 257,858 shares during the period. Finally, S&T Bank raised its stake in shares of NetScout Systems by 2.1% during the fourth quarter. S&T Bank now owns 334,102 shares of the technology company’s stock valued at $9,162,000 after purchasing an additional 6,932 shares during the period. Institutional investors own 94.32% of the company’s stock.

Shares of NASDAQ:NTCT opened at $30.73 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.70 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $28.09. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 122.92, a PEG ratio of 5.03 and a beta of 0.81. NetScout Systems, Inc. has a 12-month low of $19.76 and a 12-month high of $31.91.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, May 6th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $213.40 million during the quarter, compared to analyst estimates of $213.97 million. NetScout Systems had a net margin of 2.33% and a return on equity of 4.44%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, analysts forecast that NetScout Systems, Inc. will post 1.2 earnings per share for the current fiscal year.

In other NetScout Systems news, COO Michael Szabados sold 7,500 shares of the business’s stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $26.35, for a total transaction of $197,625.00. Following the completion of the sale, the chief operating officer now owns 32,026 shares in the company, valued at $843,885.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John Downing sold 3,000 shares of the business’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $26.68, for a total transaction of $80,040.00. Following the sale, the executive vice president now owns 91,616 shares of the company’s stock, valued at approximately $2,444,314.88. The disclosure for this sale can be found here. 4.36% of the stock is currently owned by insiders.

Separately, Zacks Investment Research lowered shares of NetScout Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, March 31st.

NetScout Systems Profile

NetScout Systems, Inc provides service assurance, security, and business analytics for digital business services against disruptions in availability, performance, and security. 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.

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Institutional Ownership by Quarter for NetScout Systems (NASDAQ:NTCT)

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