On May 11, 2023, Russell Investments Group Ltd. submitted its most recent 13F filing with the Securities & Exchange Commission, revealing that it had reduced its stake in NetScout Systems Inc. (NASDAQ:NTCT) by 11.8%. According to the filing, the institutional investor now owns only 459,195 shares of the technology company’s stock after selling 61,161 shares during the quarter. This move resulted in a decline of NetScout Systems’ worth to $14,929,000 at the end of the period.
Though this may seem like a momentous occasion for some investors and traders who follow these movements closely on websites like HoldingsChannel.com, others might not be as surprised by this news. After all, several brokerages had already issued reports about NTCT before Russell Investments made their announcement.
For instance, on May 4th TheStreet downgraded NetScout Systems from a “b-” rating to a “c+” rating in their research report based on what they discovered. Additionally, StockNews.com assumed coverage on NTCT in mid-March of this year and released a “strong-buy” rating for the tech company shortly thereafter.
Finally, Piper Sandler presented an upgraded outlook for NetScout Systems from an “underweight” rating to a “neutral” rating and set a $30.00 target price for the firm in their May 5th research report.
What does all of this mean for investors? It seems there is much discussion surrounding NetScout Systems and their future potential among financial professionals. Still, like any investment opportunity out there today – whether it’s stocks or bonds or real estate – there are always risks present when deciding where to invest one’s money.
As we head into summer and the world continues recovering from last year’s global pandemic contraction gradually , many eyes will be watching companies like NTCT closely to see what develops next. Regardless of one’s approach or particular philosophy when it comes to investing, the key is always staying informed and considering all available options before making any decisions.
Institutional Investors Show Interest in NetScout Systems with Significant Holdings Modification
Investors are modifying their holdings of NetScout Systems, a technology company that provides application and network performance management solutions. Teacher Retirement System of Texas has lifted its holdings in shares of the company by 329.0% in the third quarter, while Wedge Capital Management L L P NC purchased a new stake in shares of NetScout Systems in the fourth quarter valued at $202,000. Quadrant Capital Group LLC also lifted its holdings by 228.1% in the third quarter, and Inspire Investing LLC did so by 5.4%. Finally, Duality Advisers LP purchased a new stake worth $366,000 during the fourth quarter. It is interesting to note that 94.36% of the stock is owned by institutional investors.
Shares of NTCT opened at $29.17 on Thursday and have a fifty-day moving average price of $28.16 and a two-hundred day moving average price of $31.44. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 4.50 and a beta of 0.70.
NetScout Systems offers integrated hardware and software solutions that are used by commercial enterprises, governmental agencies, and telecommunication service providers for their performance management needs in both applications and networks alike.
Founded in June 1984 by Anil K. Singhal and Narendra Popat, NetScout Systems is headquartered in Westford, MA., USA.
With such large investors modifying their holdings in this stock so significantly over such a short period could suggest the potential for significant growth opportunities within NetScout Systems’ products as well as other related industries – only time will tell if their strategic investing pays off accordingly or not!
