Cornercap Investment Counsel Inc. Reduces Holdings in NetScout Systems, Inc. (NASDAQ:NTCT)

Cornercap Investment Counsel Inc. reduced its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 54.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 quarter.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in NetScout Systems in the second quarter valued at approximately $38,000. Innealta Capital LLC purchased a new stake in NetScout Systems in the 2nd quarter valued at $60,000. KBC Group NV raised its position in NetScout Systems by 52.4% in the 3rd 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 during the last quarter. Gladius Capital Management LP acquired a new stake in NetScout Systems during the 2nd quarter worth $69,000. Finally, Quest Partners LLC purchased a new position in NetScout Systems during the 2nd quarter worth $73,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NetScout Systems news, insider Jean A. Bua sold 19,205 shares of NetScout Systems 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 completion of the sale, the insider now directly owns 78,598 shares of the company’s stock, valued at approximately $1,601,041.26. The trade was a 19.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Szabados sold 6,500 shares of NetScout Systems stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $18.81, for a total transaction of $122,265.00. Following the completion of the sale, the chief operating officer now directly owns 43,434 shares of the company’s stock, valued at $816,993.54. The trade was a 13.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,205 shares of company stock worth $652,051 in the last ninety days. Insiders own 3.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports 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 issued a $22.00 price objective on shares of NetScout Systems in a research report on Friday, July 26th.

NetScout Systems Price Performance

NTCT stock opened at $21.86 on Friday. The firm has a 50 day moving average of $21.07 and a 200-day moving average of $20.08. NetScout Systems, Inc. has a 12-month low of $17.10 and a 12-month high of $24.42. 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 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 Company 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.