NetScout Systems (NASDAQ:NTCT) Reaches New 52-Week Low at $26.88

NetScout Systems, Inc. (NASDAQ:NTCT – Get Rating)’s share price reached a new 52-week low on Monday . The stock traded as low as $26.88 and last traded at $26.89, with a volume of 28352 shares. The stock had previously closed at $27.53.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTCT. Piper Sandler decreased their price objective on shares of NetScout Systems from $31.00 to $30.00 in a report on Tuesday, January 17th. StockNews.com raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 9th.

NetScout Systems Stock Up 1.8 %

The company has a market capitalization of $1.96 billion, a P/E ratio of 36.36, a P/E/G ratio of 3.86 and a beta of 0.70. The company has a quick ratio of 1.51, a current ratio of 1.55 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $30.48 and a 200-day simple moving average of $32.57.

Insider Buying and Selling

In other NetScout Systems news, Director Joseph G. Hadzima, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $30.68, for a total transaction of $61,360.00. Following the sale, the director now directly owns 134,298 shares in the company, valued at approximately $4,120,262.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.92% of the stock is owned by company insiders.

Institutional Trading of NetScout Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of NetScout Systems by 5.8% during the first quarter. US Bancorp DE now owns 14,554 shares of the technology company’s stock worth $467,000 after buying an additional 804 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of NetScout Systems by 17.6% in the first quarter. Natixis Advisors L.P. now owns 33,907 shares of the technology company’s stock valued at $1,088,000 after purchasing an additional 5,064 shares during the last quarter. Bank of Montreal Can lifted its position in shares of NetScout Systems by 1.8% in the first quarter. Bank of Montreal Can now owns 21,657 shares of the technology company’s stock worth $702,000 after purchasing an additional 392 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in NetScout Systems by 56.2% during the first quarter. MetLife Investment Management LLC now owns 37,102 shares of the technology company’s stock worth $1,190,000 after purchasing an additional 13,356 shares during the last quarter. Finally, Rhumbline Advisers grew its position in NetScout Systems by 0.6% in the first quarter. Rhumbline Advisers now owns 211,685 shares of the technology company’s stock valued at $6,791,000 after purchasing an additional 1,186 shares in the last quarter. Institutional investors and hedge funds own 94.36% of the company’s stock.

About NetScout Systems

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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.