33,149 Shares in NetScout Systems, Inc. (NASDAQ:NTCT) Acquired by Summit Global Investments

Summit Global Investments bought a new position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,149 shares of the technology company’s stock, valued at approximately $718,000.

A number of other hedge funds have also recently bought and sold shares of NTCT. Quarry LP boosted its position in NetScout Systems by 316.8% during the third quarter. Quarry LP now owns 1,513 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,150 shares during the last quarter. FMR LLC boosted its position in NetScout Systems by 32.1% during the third quarter. FMR LLC now owns 1,964 shares of the technology company’s stock worth $43,000 after acquiring an additional 477 shares during the last quarter. KBC Group NV boosted its position in NetScout Systems by 52.4% during the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,066 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company’s stock worth $76,000 after acquiring an additional 508 shares during the last quarter. Finally, Quest Partners LLC boosted its position in NetScout Systems by 91.0% during the third quarter. Quest Partners LLC now owns 7,613 shares of the technology company’s stock worth $166,000 after acquiring an additional 3,627 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insider Activity

In other news, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $24.25, for a total value of $72,750.00. Following the transaction, the executive vice president now owns 130,352 shares of the company’s stock, valued at approximately $3,161,036. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $23.47, for a total transaction of $152,555.00. Following the completion of the transaction, the chief operating officer now directly owns 35,989 shares in the company, valued at approximately $844,661.83. This represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,499 shares of company stock valued at $512,321. Company insiders own 3.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of NetScout Systems from $22.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

NetScout Systems Stock Performance

NASDAQ:NTCT opened at $21.39 on Monday. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.53 billion, a P/E ratio of -3.65 and a beta of 0.64. NetScout Systems, Inc. has a fifty-two week low of $17.10 and a fifty-two week high of $27.89. The firm’s 50 day moving average is $22.72 and its two-hundred day moving average is $21.89.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. NetScout Systems had a negative net margin of 50.90% and a positive return on equity of 6.76%. Analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current year.

About NetScout Systems

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. 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.