Cwm LLC lifted its stake in NetScout Systems, Inc. (NASDAQ:NTCT – Free Report) by 81.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,084 shares of the technology company’s stock after purchasing an additional 20,223 shares during the period. Cwm LLC’s holdings in NetScout Systems were worth $1,165,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in shares of NetScout Systems by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 4,484,569 shares of the technology company’s stock valued at $111,262,000 after acquiring an additional 91,248 shares during the period. Geode Capital Management LLC grew its holdings in shares of NetScout Systems by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,758,249 shares of the technology company’s stock worth $43,626,000 after acquiring an additional 21,498 shares during the period. First Trust Advisors LP increased its stake in NetScout Systems by 6.0% in the 2nd quarter. First Trust Advisors LP now owns 1,755,457 shares of the technology company’s stock valued at $43,553,000 after purchasing an additional 99,400 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in NetScout Systems by 17.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,420,479 shares of the technology company’s stock worth $29,844,000 after purchasing an additional 207,807 shares during the last quarter. Finally, LSV Asset Management boosted its position in NetScout Systems by 33.9% during the second quarter. LSV Asset Management now owns 1,218,614 shares of the technology company’s stock worth $30,234,000 after purchasing an additional 308,759 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.
NetScout Systems Trading Up 1.0%
Shares of NTCT stock opened at $27.11 on Tuesday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 22.22 and a beta of 0.62. The firm has a 50-day moving average price of $27.32 and a 200 day moving average price of $25.36. NetScout Systems, Inc. has a twelve month low of $18.12 and a twelve month high of $30.67.
Insiders Place Their Bets
In other news, Director Christopher Perretta sold 10,000 shares of NetScout Systems stock in a transaction on Friday, December 12th. The stock was sold at an average price of $28.01, for a total value of $280,100.00. Following the completion of the sale, the director owned 40,866 shares of the company’s stock, valued at $1,144,656.66. The trade was a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sanjay Munshi sold 2,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $27.23, for a total value of $54,460.00. Following the transaction, the chief operating officer owned 6,254 shares in the company, valued at $170,296.42. This trade represents a 24.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,000 shares of company stock valued at $507,960. Company insiders own 3.82% of the company’s stock.
Analysts Set New Price Targets
NTCT has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of NetScout Systems in a research report on Monday, December 29th. Royal Bank Of Canada dropped their target price on shares of NetScout Systems from $31.00 to $29.00 and set a “sector perform” rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, NetScout Systems currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.
Get Our Latest Stock Report on NetScout Systems
NetScout Systems Profile
NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout’s flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.
Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.
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