Gabelli Funds LLC trimmed its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 18.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,988 shares of the technology company’s stock after selling 6,000 shares during the period. Gabelli Funds LLC’s holdings in NetScout Systems were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in NetScout Systems by 0.7% during the 2nd quarter. BlackRock Inc. now owns 9,634,062 shares of the technology company’s stock worth $286,131,000 after purchasing an additional 64,318 shares during the period. Dimensional Fund Advisors LP grew its position in NetScout Systems by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,309,070 shares of the technology company’s stock worth $187,381,000 after purchasing an additional 614,013 shares during the period. Fort Pitt Capital Group LLC grew its position in NetScout Systems by 1.4% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,264,870 shares of the technology company’s stock worth $37,567,000 after purchasing an additional 17,775 shares during the period. First Trust Advisors LP grew its position in shares of NetScout Systems by 18.8% during the 3rd quarter. First Trust Advisors LP now owns 963,444 shares of the technology company’s stock valued at $24,327,000 after acquiring an additional 152,369 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of NetScout Systems by 17.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 842,800 shares of the technology company’s stock valued at $25,031,000 after acquiring an additional 124,100 shares during the period.

A number of research firms have recently commented on NTCT. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Saturday, October 13th. Piper Jaffray Companies set a $31.00 target price on NetScout Systems and gave the company a “buy” rating in a research report on Monday, August 13th. BidaskClub cut NetScout Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. ValuEngine upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Craig Hallum set a $25.00 price target on shares of NetScout Systems and gave the company a “hold” rating in a research note on Thursday, November 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. NetScout Systems has a consensus rating of “Hold” and an average price target of $27.50.

NetScout Systems stock traded down $0.91 during midday trading on Friday, reaching $25.74. The company had a trading volume of 434,782 shares, compared to its average volume of 449,712. The firm has a market capitalization of $2.07 billion, a PE ratio of 26.00, a P/E/G ratio of 3.15 and a beta of 1.09. NetScout Systems, Inc. has a 12-month low of $21.58 and a 12-month high of $31.77. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.29.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.21. NetScout Systems had a net margin of 1.88% and a return on equity of 3.29%. The firm had revenue of $224.00 million for the quarter, compared to analyst estimates of $218.30 million. During the same period last year, the company posted $0.29 EPS. NetScout Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, sell-side analysts predict that NetScout Systems, Inc. will post 0.85 EPS for the current fiscal year.

In other news, insider John Downing sold 3,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $27.87, for a total transaction of $83,610.00. Following the sale, the insider now owns 96,925 shares of the company’s stock, valued at approximately $2,701,299.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph G. Hadzima, Jr. sold 1,750 shares of NetScout Systems stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $26.35, for a total transaction of $46,112.50. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock worth $341,375 over the last three months. Corporate insiders own 3.93% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Gabelli Funds LLC Trims Position in NetScout Systems, Inc. (NASDAQ:NTCT)” was originally posted by Marea Informative and is the property of of Marea Informative. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://www.mareainformativa.com/news/2018/12/08/gabelli-funds-llc-has-656000-holdings-in-netscout-systems-inc-ntct-updated-updated-updated.html.

NetScout Systems Profile

NetScout Systems, Inc provides real-time operational intelligence and performance analytics for digital business services against disruptions in availability, performance, and security 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.

Featured Article: How to invest in a bear market

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

Receive News & Ratings for NetScout Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetScout Systems and related companies with MarketBeat.com's FREE daily email newsletter.