Cornercap Investment Counsel Inc. Decreases Position in NetScout Systems, Inc. (NASDAQ:NTCT)

Cornercap Investment Counsel Inc. lessened its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 54.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,626 shares of the technology company's stock after selling 26,510 shares during the period. Cornercap Investment Counsel Inc.'s holdings in NetScout Systems were worth $492,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in shares of NetScout Systems during the second quarter valued at about $38,000. Innealta Capital LLC acquired a new position in NetScout Systems during the 2nd quarter worth approximately $60,000. KBC Group NV boosted its holdings in 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 in the last quarter. Gladius Capital Management LP acquired a new stake in NetScout Systems in the second quarter valued at approximately $69,000. Finally, Quest Partners LLC acquired a new stake in NetScout Systems in the second quarter valued at approximately $73,000. 91.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NTCT has been the topic of a number of recent research reports. StockNews.com cut NetScout Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, July 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $22.00 price objective on shares of NetScout Systems in a research note on Friday, July 26th.

NetScout Systems Stock Down 2.5 %

NTCT traded down $0.56 during midday trading on Friday, reaching $21.86. 351,500 shares of the company were exchanged, compared to its average volume of 441,155. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -2.60 and a beta of 0.58. NetScout Systems, Inc. has a one year low of $17.10 and a one year high of $24.42. The company's fifty day moving average price is $21.07 and its 200 day moving average price is $20.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.63 and a current ratio of 1.68.

Insider Buying and Selling

In other news, COO Michael Szabados sold 6,500 shares of the business'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 transaction, the chief operating officer now owns 43,434 shares in the company, valued at $816,993.54. The trade was a 13.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jean A. Bua sold 19,205 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were 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. The trade was a 19.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,205 shares of company stock worth $652,051. 3.71% of the stock is owned by corporate insiders.

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.