Empowered Funds LLC Trims Stake in NetScout Systems, Inc. (NASDAQ:NTCT)

Empowered Funds LLC lessened its position in NetScout Systems, Inc. (NASDAQ:NTCT - Free Report) by 82.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTCT. Russell Investments Group Ltd. boosted its position in shares of NetScout Systems by 34,572.1% during the 1st quarter. Russell Investments Group Ltd. now owns 14,909 shares of the technology company's stock valued at $326,000 after acquiring an additional 14,866 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of NetScout Systems by 5.8% in the 1st quarter. ProShare Advisors LLC now owns 13,822 shares of the technology company's stock valued at $302,000 after acquiring an additional 762 shares during the last quarter. State Board of Administration of Florida Retirement System lifted 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 purchasing an additional 5,460 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of NetScout Systems by 134.0% during the first 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 period. Finally, Vanguard Group Inc. increased its stake in NetScout Systems by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 9,230,849 shares of the technology company's stock valued at $201,602,000 after buying an additional 223,975 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Michael Szabados sold 6,500 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.71% of the stock is owned by company insiders.

NetScout Systems Stock Up 1.2 %

Shares of NTCT stock traded up $0.25 on Friday, hitting $21.81. 365,206 shares of the stock were exchanged, compared to its average volume of 373,041. NetScout Systems, Inc. has a one year low of $17.10 and a one year high of $24.42. The firm's 50 day moving average is $21.28 and its two-hundred day moving average is $20.13. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated a "sector perform" rating and issued a $22.00 price target on shares of NetScout Systems in a research note 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.