New York Life Insurance Co. Invests $11.33 Billion in Netskope Inc. $NTSK

New York Life Insurance Co. purchased a new stake in Netskope Inc. (NASDAQ:NTSK) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,035,245 shares of the company’s stock, valued at approximately $11,325,580,000. Netskope makes up 2.1% of New York Life Insurance Co.’s investment portfolio, making the stock its 3rd largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in NTSK. Wasatch Advisors LP acquired a new position in Netskope in the second quarter valued at approximately $25,107,000. Swedbank AB acquired a new position in shares of Netskope in the 4th quarter valued at $1,801,000. Principal Financial Group Inc. grew its holdings in shares of Netskope by 31.4% during the 1st quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock worth $21,628,000 after purchasing an additional 608,355 shares during the period. Strs Ohio purchased a new stake in Netskope in the 4th quarter valued at about $2,719,000. Finally, Bank of New York Mellon Corp lifted its position in Netskope by 1,381.8% in the first quarter. Bank of New York Mellon Corp now owns 475,918 shares of the company’s stock valued at $4,041,000 after buying an additional 443,800 shares during the last quarter.

Netskope Price Performance

NTSK stock opened at $14.51 on Friday. The business’s 50-day moving average is $12.43 and its two-hundred day moving average is $11.17. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.17 and a quick ratio of 2.16. The firm has a market capitalization of $5.86 billion and a P/E ratio of -72.55. Netskope Inc. has a 1 year low of $7.66 and a 1 year high of $27.99.

Netskope (NASDAQ:NTSK) last released its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $201.59 million for the quarter. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. Analysts anticipate that Netskope Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William J.G. Griffith bought 64,771 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was purchased at an average price of $12.42 per share, for a total transaction of $804,455.82. Following the completion of the purchase, the director owned 916,690 shares in the company, valued at approximately $11,385,289.80. This trade represents a 7.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lightspeed Venture Partners Se sold 219,075 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $12.23, for a total value of $2,679,287.25. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have acquired 1,833,380 shares of company stock valued at $21,960,909 and have sold 3,529,696 shares valued at $33,002,807. 25.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NTSK. Wells Fargo & Company boosted their price target on shares of Netskope from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. BTIG Research dropped their target price on shares of Netskope from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Royal Bank Of Canada boosted their target price on Netskope from $13.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Citizens Jmp lowered their price target on Netskope from $23.00 to $17.00 and set a “market outperform” rating for the company in a research report on Friday, May 1st. Finally, BMO Capital Markets lowered their price objective on shares of Netskope from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.87.

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.