Renaissance Technologies LLC Acquires Shares of 40,000 NetScout Systems, Inc. (NTCT)

Renaissance Technologies LLC bought a new stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 40,000 shares of the technology company’s stock, valued at approximately $1,188,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. UBS Group AG grew its position in NetScout Systems by 45.7% during the first quarter. UBS Group AG now owns 13,013 shares of the technology company’s stock worth $343,000 after buying an additional 4,084 shares in the last quarter. Millennium Management LLC grew its position in NetScout Systems by 1,633.8% during the first quarter. Millennium Management LLC now owns 580,175 shares of the technology company’s stock worth $15,288,000 after buying an additional 546,712 shares in the last quarter. Legal & General Group Plc grew its position in NetScout Systems by 15.7% during the first quarter. Legal & General Group Plc now owns 96,315 shares of the technology company’s stock worth $2,538,000 after buying an additional 13,095 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in NetScout Systems by 28.9% during the first quarter. Xact Kapitalforvaltning AB now owns 12,032 shares of the technology company’s stock worth $317,000 after buying an additional 2,700 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in NetScout Systems by 1.7% during the first quarter. Principal Financial Group Inc. now owns 378,332 shares of the technology company’s stock worth $9,969,000 after buying an additional 6,345 shares in the last quarter.

A number of equities research analysts recently weighed in on NTCT shares. Zacks Investment Research downgraded NetScout Systems from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. ValuEngine downgraded NetScout Systems from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. BidaskClub raised NetScout Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, Piper Jaffray Companies set a $31.00 target price on NetScout Systems and gave the stock a “buy” rating in a research report on Monday, August 13th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. NetScout Systems has an average rating of “Buy” and an average target price of $27.17.

NASDAQ NTCT opened at $25.26 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.90 and a current ratio of 2.00. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 2.70 and a beta of 1.30. NetScout Systems, Inc. has a 1-year low of $21.58 and a 1-year high of $31.95.

In other NetScout Systems news, insider John Downing sold 3,000 shares of NetScout Systems stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vincent J. Mullarkey sold 26,466 shares of NetScout Systems stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $24.79, for a total value of $656,092.14. Following the sale, the director now directly owns 10,147 shares in the company, valued at $251,544.13. The disclosure for this sale can be found here. Insiders have sold 35,466 shares of company stock worth $886,672 over the last ninety days. Company insiders own 3.93% of the company’s stock.

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.

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

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