Maryland State Retirement & Pension System Sells 3,149 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Maryland State Retirement & Pension System cut its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,934 shares of the technology company’s stock after selling 3,149 shares during the period. Maryland State Retirement & Pension System’s holdings in NetScout Systems were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of NetScout Systems in the first quarter worth about $216,000. SG Americas Securities LLC raised its stake in shares of NetScout Systems by 94.6% in the first quarter. SG Americas Securities LLC now owns 31,759 shares of the technology company’s stock worth $667,000 after acquiring an additional 15,443 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of NetScout Systems by 4.3% in the fourth quarter. Captrust Financial Advisors now owns 24,210 shares of the technology company’s stock worth $524,000 after acquiring an additional 993 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NetScout Systems by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,341 shares of the technology company’s stock worth $852,000 after acquiring an additional 1,481 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of NetScout Systems by 1,658.0% during the first quarter. GAMMA Investing LLC now owns 18,195 shares of the technology company’s stock worth $382,000 after buying an additional 17,160 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

NetScout Systems Price Performance

NTCT opened at $22.41 on Friday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 22.41 and a beta of 0.65. The firm has a 50 day simple moving average of $23.08 and a 200 day simple moving average of $22.42. NetScout Systems, Inc. has a fifty-two week low of $18.12 and a fifty-two week high of $27.89.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $186.75 million during the quarter, compared to the consensus estimate of $181.50 million. NetScout Systems had a net margin of 8.72% and a return on equity of 7.47%. NetScout Systems’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. As a group, analysts expect that NetScout Systems, Inc. will post 1.5 EPS for the current year.

Insider Buying and Selling

In related news, EVP John Downing sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $23.47, for a total transaction of $70,410.00. Following the completion of the sale, the executive vice president directly owned 127,352 shares of the company’s stock, valued at $2,988,951.44. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $23.85, for a total transaction of $83,475.00. Following the sale, the director directly owned 127,798 shares of the company’s stock, valued at approximately $3,047,982.30. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.82% of the company’s stock.

NetScout Systems Profile

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.