NetScout Systems, Inc. (NASDAQ:NTCT) Shares Purchased by BlackRock Inc.

BlackRock Inc. increased its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 12.52% of NetScout Systems worth $258,982,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its stake in NetScout Systems by 31.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 94,175 shares of the technology company’s stock worth $2,652,000 after purchasing an additional 22,537 shares during the period. Cibc World Markets Corp acquired a new stake in shares of NetScout Systems in the 1st quarter worth $222,000. Swiss National Bank lifted its stake in shares of NetScout Systems by 2.6% in the 1st quarter. Swiss National Bank now owns 168,028 shares of the technology company’s stock worth $4,732,000 after acquiring an additional 4,200 shares during the period. IndexIQ Advisors LLC lifted its stake in shares of NetScout Systems by 61.9% in the 1st quarter. IndexIQ Advisors LLC now owns 14,324 shares of the technology company’s stock worth $403,000 after acquiring an additional 5,475 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of NetScout Systems by 1.9% in the 1st quarter. Arizona State Retirement System now owns 21,418 shares of the technology company’s stock worth $603,000 after acquiring an additional 406 shares during the period. Hedge funds and other institutional investors own 94.32% of the company’s stock.

Shares of NTCT opened at $30.73 on Friday. The company has a 50-day moving average of $28.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.76 and a quick ratio of 1.70. The stock has a market cap of $2.27 billion, a P/E ratio of 122.92, a PEG ratio of 5.03 and a beta of 0.81. NetScout Systems, Inc. has a 52-week low of $19.76 and a 52-week high of $31.91.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings results on Thursday, May 6th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.14. The business had revenue of $213.40 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.50 EPS. As a group, equities analysts forecast that NetScout Systems, Inc. will post 1.2 EPS for the current fiscal year.

In other news, EVP John Downing sold 3,000 shares of the stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $26.68, for a total value of $80,040.00. Following the completion of the transaction, the executive vice president now owns 91,616 shares in the company, valued at approximately $2,444,314.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Szabados sold 7,500 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 32,026 shares of the company’s stock, valued at approximately $843,885.10. The disclosure for this sale can be found here. Company insiders own 4.36% of the company’s stock.

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

NetScout Systems Company 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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