First Trust Portfolios Discloses 4.2% Passive Stake in NETSCOUT
Ticker: NTCT · Form: SC 13G · Filed: Jan 12, 2024 · CIK: 1078075
| Field | Detail |
|---|---|
| Company | Netscout Systems Inc (NTCT) |
| Form Type | SC 13G |
| Filed Date | Jan 12, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**First Trust just revealed a 4.2% passive stake in NETSCOUT, a bullish signal for the stock.**
AI Summary
First Trust Portfolios L.P., along with First Trust Advisors L.P. and The Charger Corporation, reported a passive ownership stake in NETSCOUT SYSTEMS INC (NTCT) as of December 31, 2023. This filing indicates that First Trust Portfolios L.P. now holds 3,000,000 shares, representing 4.2% of the company's common stock. This matters to investors because it signals a significant institutional investment, potentially indicating confidence in NETSCOUT's future, but it's a passive stake, meaning they aren't seeking to influence management.
Why It Matters
A substantial institutional investment like this can boost investor confidence and potentially stabilize the stock price, as it shows a major player sees value in NETSCOUT SYSTEMS INC.
Risk Assessment
Risk Level: low — This filing indicates a passive investment, which generally carries lower risk as the investor is not actively seeking to change company operations.
Analyst Insight
A smart investor would view this as a positive signal, suggesting institutional confidence in NETSCOUT. While it's a passive stake, it could warrant further research into NETSCOUT's fundamentals and future prospects, especially considering the size of the investment.
Key Numbers
- 3,000,000 — shares beneficially owned (total shares held by First Trust Portfolios L.P. and related entities)
- 4.2% — percentage of class (ownership stake in NETSCOUT SYSTEMS INC common stock)
- December 31, 2023 — date of event (date requiring the filing of this statement)
- 64115T104 — CUSIP Number (identifies NETSCOUT SYSTEMS INC common stock)
Key Players & Entities
- First Trust Portfolios L.P. (company) — reporting person and institutional investor
- NETSCOUT SYSTEMS INC (company) — subject company of the filing
- First Trust Advisors L.P. (company) — related reporting person
- The Charger Corporation (company) — related reporting person
- Illinois, U.S.A. (person) — place of organization for reporting persons
Forward-Looking Statements
- NETSCOUT SYSTEMS INC's stock price may see increased stability due to institutional interest. (NETSCOUT SYSTEMS INC) — medium confidence, target: Q2 2024
- Other institutional investors might follow First Trust's lead and increase their positions in NETSCOUT. (NETSCOUT SYSTEMS INC) — low confidence, target: Q3 2024
FAQ
Who are the reporting persons in this SC 13G filing?
The reporting persons are First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation, as listed under 'Names of Reporting Persons' in the filing.
What is the date of the event that triggered this SC 13G filing?
The date of the event which required the filing of this statement was December 31, 2023, as stated on the cover page of the filing.
What percentage of NETSCOUT SYSTEMS INC's common stock does First Trust Portfolios L.P. beneficially own?
First Trust Portfolios L.P. beneficially owns 4.2% of the common stock of NETSCOUT SYSTEMS INC, as indicated in the 'Percentage of Class Represented by Amount in Row (9)' section of the filing.
How many shares of NETSCOUT SYSTEMS INC common stock are beneficially owned by the reporting persons?
The reporting persons beneficially own 3,000,000 shares of NETSCOUT SYSTEMS INC common stock, as detailed in 'Amount Beneficially Owned by Each Reporting Person' in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box on the cover page.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 12, 2024 by Illinois, U.S.A. regarding NETSCOUT SYSTEMS INC (NTCT).