Russell Investments Group Ltd. boosted its stake in NetScout Systems, Inc. (NASDAQ:NTCT) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,083,556 shares of the technology company’s stock after buying an additional 76,946 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.43% of NetScout Systems worth $24,983,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NTCT. Northern Trust Corp boosted its stake in NetScout Systems by 1.6% in the second quarter. Northern Trust Corp now owns 1,469,811 shares of the technology company’s stock worth $37,319,000 after purchasing an additional 23,053 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of NetScout Systems by 7.7% during the second quarter. Macquarie Group Ltd. now owns 1,385,553 shares of the technology company’s stock worth $35,179,000 after acquiring an additional 98,763 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of NetScout Systems by 28.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 849,172 shares of the technology company’s stock worth $21,561,000 after acquiring an additional 185,984 shares during the last quarter. Investment Counselors of Maryland LLC raised its position in shares of NetScout Systems by 1.2% during the second quarter. Investment Counselors of Maryland LLC now owns 843,022 shares of the technology company’s stock worth $21,404,000 after acquiring an additional 9,754 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of NetScout Systems by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 828,426 shares of the technology company’s stock worth $21,033,000 after acquiring an additional 20,598 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ NTCT opened at $25.24 on Friday. The stock has a 50-day simple moving average of $22.81 and a 200 day simple moving average of $24.52. NetScout Systems, Inc. has a 12 month low of $20.94 and a 12 month high of $30.30. The company has a current ratio of 1.63, a quick ratio of 1.56 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.86 billion, a PE ratio of 31.16 and a beta of 1.41.
A number of research firms have recently weighed in on NTCT. Zacks Investment Research downgraded NetScout Systems from a “buy” rating to a “sell” rating in a research report on Wednesday. Piper Jaffray Companies downgraded NetScout Systems from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $25.00 to $20.00 in a research report on Friday, October 11th. Finally, BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $26.00.
In other NetScout Systems news, COO Michael Szabados sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.96, for a total value of $149,760.00. Following the sale, the chief operating officer now owns 49,230 shares in the company, valued at $1,228,780.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Downing sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $22.03, for a total value of $66,090.00. Following the completion of the sale, the executive vice president now owns 105,854 shares in the company, valued at approximately $2,331,963.62. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock valued at $365,351 over the last three months. Insiders own 4.06% of the company’s stock.
NetScout Systems Company 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.
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