Empowered Funds LLC Sells 191,473 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Empowered Funds LLC decreased its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 82.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,140 shares of the technology company’s stock after selling 191,473 shares during the quarter. Empowered Funds LLC owned approximately 0.06% of NetScout Systems worth $895,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Impax Asset Management Group plc grew its stake in shares of NetScout Systems by 32.0% in the third quarter. Impax Asset Management Group plc now owns 495,000 shares of the technology company’s stock worth $10,766,000 after acquiring an additional 120,000 shares during the last quarter. KBC Group NV grew its stake in shares of NetScout Systems by 52.4% in the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,066 shares during the last quarter. Versor Investments LP purchased a new stake in shares of NetScout Systems in the third quarter worth $447,000. Covestor Ltd grew its stake in shares of NetScout Systems by 25.7% in the third quarter. Covestor Ltd now owns 3,606 shares of the technology company’s stock worth $78,000 after acquiring an additional 737 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of NetScout Systems by 71.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 305,454 shares of the technology company’s stock worth $6,644,000 after acquiring an additional 127,200 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NetScout Systems

In other news, COO Michael Szabados sold 6,500 shares of NetScout Systems stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $21.32, for a total value of $138,580.00. Following the completion of the sale, the chief operating officer now directly owns 42,489 shares in the company, valued at $905,865.48. The trade was a 13.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 target price on shares of NetScout Systems in a research note on Friday, July 26th.

NetScout Systems Stock Performance

Shares of NTCT stock opened at $21.81 on Friday. The company has a 50 day moving average price of $21.28 and a 200-day moving average price of $20.13. NetScout Systems, Inc. has a 52 week low of $17.10 and a 52 week high of $24.42. The firm has a market capitalization of $1.56 billion, a PE ratio of -2.60 and a beta of 0.58. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.05.

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.