Meeder Asset Management Inc. Acquires 4,252 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

Meeder Asset Management Inc. grew its holdings in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 203.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,338 shares of the technology company’s stock after buying an additional 4,252 shares during the period. Meeder Asset Management Inc.’s holdings in NetScout Systems were worth $138,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Millennium Management LLC boosted its holdings in shares of NetScout Systems by 375.3% in the second quarter. Millennium Management LLC now owns 1,100,485 shares of the technology company’s stock valued at $20,128,000 after purchasing an additional 868,955 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of NetScout Systems by 74.5% in the second quarter. Assenagon Asset Management S.A. now owns 846,435 shares of the technology company’s stock valued at $15,481,000 after purchasing an additional 361,245 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of NetScout Systems in the second quarter valued at approximately $6,015,000. Vanguard Group Inc. boosted its holdings in shares of NetScout Systems by 2.5% in the first quarter. Vanguard Group Inc. now owns 9,230,849 shares of the technology company’s stock valued at $201,602,000 after purchasing an additional 223,975 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of NetScout Systems by 181.1% in the second quarter. Acadian Asset Management LLC now owns 304,583 shares of the technology company’s stock valued at $5,565,000 after purchasing an additional 196,218 shares during the period. Institutional investors own 91.64% of the company’s stock.

NetScout Systems Stock Performance

Shares of NTCT opened at $21.25 on Thursday. NetScout Systems, Inc. has a 12 month low of $17.10 and a 12 month high of $24.42. The stock has a fifty day moving average price of $21.19 and a 200-day moving average price of $20.11. The company has a current ratio of 1.68, a quick ratio of 1.63 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.52 billion, a PE ratio of -2.53 and a beta of 0.58.

Insider Activity

In related news, COO Michael Szabados sold 6,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $21.32, for a total value of $138,580.00. Following the transaction, the chief operating officer now directly owns 42,489 shares of the company’s stock, valued at $905,865.48. This represents a 13.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

About NetScout Systems

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.