Netscout Systems Inc. (NASDAQ:NTCT) has reported a recent transaction involving Chief Operating Officer Michael Szabados, who sold shares of the company's stock. On May 14, 2024, Szabados sold 5,000 shares at a weighted average price of $20.411 per share, totaling approximately $102,055.
The sale took place under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of material non-public information. This plan was adopted by Szabados on September 7, 2023.
According to the filing, the shares were sold in multiple transactions with prices ranging from $20.28 to $20.6481. Following this sale, Szabados still owns 21,084 shares of Netscout Systems, indicating a continued investment in the company's future.
Investors and shareholders may request detailed information about the exact number of shares sold at each price point within the specified range from Netscout Systems or the Securities and Exchange Commission.
Netscout Systems, headquartered in Westford, Massachusetts, specializes in providing integrated systems design services and operates under the computer services industry.
The transactions are reported in compliance with SEC requirements, and the reported data provides transparency into the trading activities of the company's executives.
InvestingPro Insights
Netscout Systems Inc. (NASDAQ:NTCT) has seen some notable financial metrics and strategic moves that could influence investor perception. With a market capitalization of approximately $1.49 billion and a striking gross profit margin of 77.41% for the last twelve months as of Q4 2024, the company has demonstrated a strong ability to retain earnings from its sales. Despite a decline in revenue growth over the same period, with a -9.3% change year-over-year, Netscout's management has been actively responding to market conditions.
One InvestingPro Tip highlights that the management has been aggressively buying back shares, a sign that could be interpreted as confidence in the company's value and future prospects. Additionally, Netscout holds more cash than debt on its balance sheet, providing financial stability and flexibility.
Investors may also find the company's liquidity position reassuring, as liquid assets exceed short-term obligations. While Netscout did not pay dividends in the recent past, which might deter income-focused investors, the company's net income is expected to grow this year, as per another InvestingPro Tip. Analysts predict that Netscout will be profitable this year, offering a potential upside for growth-oriented investors.
For those seeking a deeper dive into Netscout Systems' financial health and future prospects, InvestingPro offers a wealth of additional insights. There are currently 5 more InvestingPro Tips available for NTCT, which can be accessed on the platform. To enrich your investment strategy with these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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