Amalgamated Bank Cuts Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

Amalgamated Bank lowered its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,981 shares of the technology company’s stock after selling 517 shares during the quarter. Amalgamated Bank’s holdings in NetScout Systems were worth $456,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in NetScout Systems by 34,572.1% during the first quarter. Russell Investments Group Ltd. now owns 14,909 shares of the technology company’s stock valued at $326,000 after purchasing an additional 14,866 shares in the last quarter. ProShare Advisors LLC increased its position in shares of NetScout Systems by 5.8% during the 1st quarter. ProShare Advisors LLC now owns 13,822 shares of the technology company’s stock valued at $302,000 after purchasing an additional 762 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of NetScout Systems by 28.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,939 shares of the technology company’s stock valued at $545,000 after buying an additional 5,460 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in NetScout Systems by 134.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,772 shares of the technology company’s stock worth $366,000 after buying an additional 9,605 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in NetScout Systems by 2.5% in the first quarter. Vanguard Group Inc. now owns 9,230,849 shares of the technology company’s stock worth $201,602,000 after buying an additional 223,975 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

NetScout Systems Price Performance

Shares of NetScout Systems stock opened at $21.86 on Friday. 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 one year low of $17.10 and a one year high of $24.42. The business’s 50 day simple moving average is $21.07 and its two-hundred day simple moving average is $20.08. The stock has a market capitalization of $1.57 billion, a P/E ratio of -2.60 and a beta of 0.58.

Insider Buying and Selling

In related news, insider Jean A. Bua sold 19,205 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $20.37, for a total value of $391,205.85. Following the sale, the insider now directly owns 78,598 shares of the company’s stock, valued at $1,601,041.26. This trade represents a 19.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Szabados sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $18.81, for a total value of $122,265.00. Following the transaction, the chief operating officer now directly owns 43,434 shares of the company’s stock, valued at $816,993.54. The trade was a 13.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,205 shares of company stock valued at $652,051 over the last three months. 3.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

NetScout Systems 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.