NetScout Systems, Inc. (NASDAQ:NTCT) Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT – Get Rating) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,773 shares of the technology company’s stock after selling 1,550 shares during the period. Principal Financial Group Inc.’s holdings in NetScout Systems were worth $14,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NTCT. First Trust Advisors LP raised its holdings in NetScout Systems by 2,082.1% during the third quarter. First Trust Advisors LP now owns 2,362,035 shares of the technology company’s stock valued at $73,979,000 after buying an additional 2,253,791 shares in the last quarter. FMR LLC raised its holdings in NetScout Systems by 1,421.6% during the second quarter. FMR LLC now owns 629,722 shares of the technology company’s stock valued at $21,316,000 after buying an additional 588,337 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in NetScout Systems during the third quarter valued at about $9,468,000. Russell Investments Group Ltd. raised its holdings in NetScout Systems by 110.9% during the third quarter. Russell Investments Group Ltd. now owns 520,356 shares of the technology company’s stock valued at $16,294,000 after buying an additional 273,678 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in NetScout Systems by 45.3% during the first quarter. Invesco Ltd. now owns 732,879 shares of the technology company’s stock valued at $23,511,000 after buying an additional 228,324 shares in the last quarter. 94.36% of the stock is currently owned by hedge funds and other institutional investors.

NetScout Systems Trading Down 1.3 %

NetScout Systems stock opened at $30.57 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.32 and a current ratio of 1.36. The business’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $31.09. The firm has a market capitalization of $2.18 billion, a PE ratio of 37.74, a PEG ratio of 4.10 and a beta of 0.70. NetScout Systems, Inc. has a 52 week low of $25.90 and a 52 week high of $38.02.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTCT. Piper Sandler upgraded NetScout Systems from an “underweight” rating to a “neutral” rating and set a $30.00 target price on the stock in a report on Friday, May 5th. StockNews.com began coverage on NetScout Systems in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Finally, TheStreet lowered NetScout Systems from a “b-” rating to a “c+” rating in a research note on Thursday, May 4th.

Insider Buying and Selling

In related news, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $29.15, for a total transaction of $87,450.00. Following the sale, the executive vice president now directly owns 107,086 shares of the company’s stock, valued at $3,121,556.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $29.15, for a total transaction of $87,450.00. Following the sale, the executive vice president now directly owns 107,086 shares of the company’s stock, valued at $3,121,556.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $29.43, for a total value of $147,150.00. Following the sale, the chief operating officer now directly owns 24,310 shares in the company, valued at $715,443.30. The disclosure for this sale can be found here. 3.92% of the stock is owned by company insiders.

NetScout Systems Company Profile

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NetScout Systems, Inc engages in the provision of application and network performance management solutions. It operates through the following geographical segments: the United States, Europe, Asia, and Rest of the World. The company was founded by Anil K. Singhal and Narendra Popat in 1984 and is headquartered in Westford, MA.