Covestor Ltd Boosts Stake in NetScout Systems, Inc. (NASDAQ:NTCT)

Covestor Ltd lifted its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 25.7% during the third quarter, Holdings Channel reports. The fund owned 3,606 shares of the technology company’s stock after purchasing an additional 737 shares during the quarter. Covestor Ltd’s holdings in NetScout Systems were worth $78,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in NetScout Systems during the 2nd quarter worth approximately $38,000. Innealta Capital LLC bought a new stake in shares of NetScout Systems in the second quarter worth $60,000. Gladius Capital Management LP acquired a new stake in NetScout Systems in the second quarter valued at $69,000. Quest Partners LLC bought a new position in NetScout Systems during the 2nd quarter valued at $73,000. Finally, CWM LLC grew its holdings in NetScout Systems by 250.8% during the 3rd quarter. CWM LLC now owns 6,409 shares of the technology company’s stock worth $139,000 after acquiring an additional 4,582 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NTCT shares. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of NetScout Systems in a research note on Friday, July 26th. StockNews.com cut NetScout Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 24th.

NetScout Systems Stock Performance

NetScout Systems stock opened at $22.75 on Thursday. The company has a fifty day moving average price of $21.00 and a two-hundred day moving average price of $20.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.68 and a quick ratio of 1.63. NetScout Systems, Inc. has a 12 month low of $17.10 and a 12 month high of $24.42. The company has a market cap of $1.63 billion, a PE ratio of -2.71 and a beta of 0.58.

Insider Activity at NetScout Systems

In related news, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total value of $122,265.00. Following the sale, the chief operating officer now owns 43,434 shares of the company’s stock, valued at approximately $816,993.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NetScout Systems news, COO Michael Szabados sold 6,500 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total value of $122,265.00. Following the sale, the chief operating officer now directly owns 43,434 shares of the company’s stock, valued at $816,993.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jean A. Bua sold 19,205 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $20.37, for a total transaction of $391,205.85. Following the transaction, the insider now directly owns 78,598 shares of the company’s stock, valued at approximately $1,601,041.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,205 shares of company stock valued at $652,051 in the last quarter. Insiders own 3.71% of the company’s stock.

NetScout Systems Company Profile

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions 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.