Retirement Systems of Alabama reduced its position in shares of NetScout Systems Inc. (NASDAQ:NTCT) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 566,306 shares of the company’s stock after selling 84,638 shares during the period. Retirement Systems of Alabama owned approximately 0.62% of NetScout Systems worth $16,564,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Sei Investments Co. increased its position in NetScout Systems by 219.8% in the second quarter. Sei Investments Co. now owns 5,587 shares of the company’s stock worth $124,000 after buying an additional 3,840 shares during the period. LS Investment Advisors LLC increased its position in 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. Tower Research Capital LLC TRC bought a new position in NetScout Systems during the second quarter worth approximately $141,000. Noesis Capital Mangement Corp bought a new position in NetScout Systems during the third quarter worth approximately $208,000. Finally, Bank of Stockton bought a new position in NetScout Systems during the third quarter worth approximately $228,000. 98.12% of the stock is currently owned by institutional investors.
NetScout Systems Inc. (NASDAQ:NTCT) traded down 1.07% during mid-day trading on Friday, hitting $32.40. 326,365 shares of the stock traded hands. The firm’s market cap is $2.97 billion. NetScout Systems Inc. has a 1-year low of $18.77 and a 1-year high of $33.89. The stock has a 50-day moving average of $29.74 and a 200 day moving average of $27.00.
NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, October 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. The business earned $272 million during the quarter, compared to the consensus estimate of $279.72 million. NetScout Systems had a negative net margin of 3.38% and a positive return on equity of 5.51%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, equities analysts expect that NetScout Systems Inc. will post $1.88 EPS for the current year.
Several research analysts have issued reports on NTCT shares. B. Riley reissued a “buy” rating and set a $34.00 price objective on shares of NetScout Systems in a research report on Thursday, October 27th. Zacks Investment Research raised shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Wednesday, September 28th. Finally, Pacific Crest reissued a “buy” rating on shares of NetScout Systems in a research report on Monday, September 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $29.21.
In other NetScout Systems news, insider John Downing sold 1,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $27.50, for a total transaction of $27,500.00. Following the transaction, the insider now directly owns 109,963 shares in the company, valued at approximately $3,023,982.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Szabados sold 5,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $27.45, for a total transaction of $137,250.00. Following the transaction, the chief operating officer now owns 44,007 shares in the company, valued at $1,207,992.15. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.
NetScout Systems Company Profile