Empowered Funds LLC Reduces Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

Empowered Funds LLC decreased its holdings in NetScout Systems, Inc. (NASDAQ:NTCT) by 82.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 41,140 shares of the technology company’s stock after selling 191,473 shares during the quarter. Empowered Funds LLC’s holdings in NetScout Systems were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in NetScout Systems during the second quarter valued at approximately $38,000. Innealta Capital LLC purchased a new position in NetScout Systems during the second quarter valued at approximately $60,000. KBC Group NV lifted its holdings in NetScout Systems by 52.4% during the third quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock valued at $67,000 after purchasing an additional 1,066 shares in the last quarter. Gladius Capital Management LP purchased a new position in NetScout Systems during the second quarter valued at approximately $69,000. Finally, Quest Partners LLC purchased a new position in NetScout Systems during the second quarter valued at approximately $73,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity

In other news, COO Michael Szabados sold 6,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 42,489 shares of the company’s stock, valued at $905,865.48. This trade represents a 13.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.71% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of NetScout Systems in a report on Friday, July 26th.

NetScout Systems Trading Up 1.2 %

NetScout Systems stock opened at $21.81 on Friday. The stock has a market cap of $1.56 billion, a P/E ratio of -2.60 and a beta of 0.58. 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 1 year low of $17.10 and a 1 year high of $24.42. The firm’s 50 day moving average price is $21.28 and its 200-day moving average price is $20.13.

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.