JPMorgan Chase & Co. Sells 228,227 Shares of NetScout Systems, Inc. (NASDAQ:NTCT)

JPMorgan Chase & Co. decreased its position in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 58.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,361 shares of the technology company’s stock after selling 228,227 shares during the period. JPMorgan Chase & Co. owned approximately 0.23% of NetScout Systems worth $3,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NTCT. Pacer Advisors Inc. grew its holdings in NetScout Systems by 224,935.8% during the 3rd quarter. Pacer Advisors Inc. now owns 2,056,827 shares of the technology company’s stock valued at $44,736,000 after purchasing an additional 2,055,913 shares during the last quarter. Millennium Management LLC boosted its position in shares of NetScout Systems by 375.3% during the second quarter. Millennium Management LLC now owns 1,100,485 shares of the technology company’s stock valued at $20,128,000 after buying an additional 868,955 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of NetScout Systems during the second quarter valued at approximately $6,015,000. Assenagon Asset Management S.A. raised its holdings in shares of NetScout Systems by 24.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,053,606 shares of the technology company’s stock worth $22,916,000 after buying an additional 207,171 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of NetScout Systems by 66.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 446,387 shares of the technology company’s stock worth $9,709,000 after acquiring an additional 178,269 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NetScout Systems Trading Up 0.5 %

Shares of NTCT opened at $22.15 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.68 and a quick ratio of 1.63. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -2.64 and a beta of 0.58. The company has a 50-day moving average of $22.00 and a 200 day moving average of $20.83. NetScout Systems, Inc. has a 1-year low of $17.10 and a 1-year high of $24.42.

Insiders Place Their Bets

In other NetScout Systems 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 transaction of $138,580.00. Following the transaction, the chief operating officer now directly owns 42,489 shares in the company, valued at $905,865.48. This represents a 13.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

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.