Principal Financial Group Inc. Raises Stock Position in Netskope Inc. $NTSK

Principal Financial Group Inc. boosted its stake in shares of Netskope Inc. (NASDAQ:NTSK) by 31.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,547,468 shares of the company’s stock after acquiring an additional 608,355 shares during the period. Principal Financial Group Inc. owned about 0.64% of Netskope worth $21,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Scge Management L.P. acquired a new stake in shares of Netskope in the third quarter valued at about $312,104,000. Vanguard Group Inc. raised its position in shares of Netskope by 51.5% during the 4th quarter. Vanguard Group Inc. now owns 5,332,708 shares of the company’s stock worth $93,536,000 after purchasing an additional 1,812,857 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Netskope by 11.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,561,508 shares of the company’s stock valued at $62,469,000 after buying an additional 373,529 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Netskope by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,556,583 shares of the company’s stock valued at $62,383,000 after buying an additional 456,321 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in Netskope in the 4th quarter worth about $60,882,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NTSK. TD Cowen reduced their target price on Netskope from $25.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, June 4th. BMO Capital Markets decreased their price objective on Netskope from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Rosenblatt Securities assumed coverage on shares of Netskope in a research note on Tuesday, April 14th. They set a “buy” rating and a $15.00 target price on the stock. Robert W. Baird reduced their target price on shares of Netskope from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada set a $18.00 price target on shares of Netskope in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Insider Activity

In other Netskope news, Director Arif Janmohamed sold 336,173 shares of Netskope stock in a transaction on Monday, June 15th. The stock was sold at an average price of $9.00, for a total value of $3,025,557.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Lightspeed Venture Partners Se sold 219,075 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $12.23, for a total value of $2,679,287.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 1,833,380 shares of company stock worth $21,960,909 and have sold 3,529,696 shares worth $33,002,807. Insiders own 25.52% of the company’s stock.

Netskope Stock Down 1.4%

NASDAQ NTSK opened at $13.33 on Wednesday. The business’s fifty day simple moving average is $11.11 and its 200-day simple moving average is $11.49. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 4.06. The firm has a market cap of $5.38 billion and a PE ratio of -66.65. Netskope Inc. has a 52 week low of $7.66 and a 52 week high of $27.99.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $201.59 million during the quarter. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. As a group, equities analysts anticipate that Netskope Inc. will post -0.88 earnings per share for the current year.

Netskope Profile

We are redefining security and networking for the era of cloud and AI. The cloud and AI have completely revolutionized work. We are more dispersed, more productive, and more automated than ever before, and the rate of change is only accelerating. Not since the internet has there been such a transformative tectonic shift. But, with it has come collateral damage-traditional security and networking are now broken. We founded Netskope to address this revolution. We built Netskope One, our unified, cloud-native platform from the ground up to solve the challenge of securing and accelerating the digital interactions of enterprises in this new era.