Rafferty Asset Management LLC Cuts Stake in NetScout Systems, Inc. (NASDAQ:NTCT)

Rafferty Asset Management LLC reduced its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,313 shares of the technology company’s stock after selling 39,683 shares during the period. Rafferty Asset Management LLC owned about 0.17% of NetScout Systems worth $3,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FORA Capital LLC purchased a new stake in NetScout Systems during the 1st quarter worth approximately $66,000. Martingale Asset Management L P purchased a new stake in NetScout Systems during the 1st quarter worth approximately $209,000. Cibc World Markets Corp purchased a new stake in NetScout Systems during the 1st quarter worth approximately $222,000. Profund Advisors LLC purchased a new stake in NetScout Systems during the 1st quarter worth approximately $222,000. Finally, Teacher Retirement System of Texas purchased a new stake in NetScout Systems during the 1st quarter worth approximately $230,000. 93.71% of the stock is currently owned by hedge funds and other institutional investors.

In other news, COO Michael Szabados sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $28.07, for a total value of $210,525.00. Following the completion of the transaction, the chief operating officer now owns 64,461 shares in the company, valued at approximately $1,809,420.27. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John Downing sold 3,000 shares of the company’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $27.48, for a total transaction of $82,440.00. The disclosure for this sale can be found here. Corporate insiders own 3.97% of the company’s stock.

NTCT has been the subject of several analyst reports. TheStreet cut shares of NetScout Systems from a “b-” rating to a “c” rating in a report on Thursday, July 29th. Royal Bank of Canada boosted their price target on shares of NetScout Systems from $28.00 to $29.00 and gave the stock a “sector perform” rating in a report on Friday, July 30th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.25.

NASDAQ NTCT opened at $26.92 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.89 and a debt-to-equity ratio of 0.17. NetScout Systems, Inc. has a 52 week low of $19.76 and a 52 week high of $31.91. The stock has a market capitalization of $1.99 billion, a PE ratio of 79.18, a price-to-earnings-growth ratio of 4.65 and a beta of 0.75. The firm has a 50 day moving average of $27.82 and a two-hundred day moving average of $28.27.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, July 29th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. NetScout Systems had a net margin of 3.04% and a return on equity of 4.44%. The business had revenue of $190.27 million during the quarter, compared to analysts’ expectations of $186.71 million. On average, equities research analysts expect that NetScout Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

About NetScout Systems

NetScout Systems, Inc engages in the provision of application and network performance management solutions. Its integrated hardware and software solutions are used by commercial enterprises, governmental agencies and telecommunication service providers. The company was founded by Anil K. Singhal and Narendra Popat in June 1984 and is headquartered in Westford, MA.

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

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