TD Asset Management Inc Buys New Shares in Netskope Inc. $NTSK

TD Asset Management Inc purchased a new position in shares of Netskope Inc. (NASDAQ:NTSK) during the third quarter, HoldingsChannel.com reports. The fund purchased 220,176 shares of the company’s stock, valued at approximately $5,005,000.

A number of other hedge funds also recently made changes to their positions in the stock. Chicago Capital LLC acquired a new stake in shares of Netskope during the 3rd quarter worth $2,056,000. Massachusetts Financial Services Co. MA acquired a new stake in Netskope during the third quarter worth about $72,463,000. Federated Hermes Inc. purchased a new position in shares of Netskope in the 3rd quarter worth about $18,184,000. New York State Common Retirement Fund acquired a new position in shares of Netskope in the 3rd quarter valued at about $943,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Netskope during the 3rd quarter worth about $27,239,000.

Netskope Price Performance

Shares of NTSK stock opened at $10.25 on Wednesday. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. The business has a fifty day moving average price of $14.28. The firm has a market cap of $4.03 billion and a price-to-earnings ratio of -102.50. Netskope Inc. has a 12 month low of $9.13 and a 12 month high of $27.99.

Netskope (NASDAQ:NTSK) last announced its earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The business had revenue of $184.17 million for the quarter, compared to analysts’ expectations of $175.81 million. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Insiders Place Their Bets

In related news, CRO Raphael Bousquet sold 3,823 shares of Netskope stock in a transaction on Monday, January 12th. The shares were sold at an average price of $16.66, for a total value of $63,691.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Beri sold 31,594 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total transaction of $555,422.52. The SEC filing for this sale provides additional information. Insiders have sold 1,049,721 shares of company stock worth $18,020,279 in the last three months.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTSK. Mizuho cut their price target on shares of Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Piper Sandler reissued an “overweight” rating on shares of Netskope in a research note on Friday, December 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. Finally, BTIG Research reduced their price objective on Netskope from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Netskope has an average rating of “Moderate Buy” and an average price target of $23.47.

Netskope Company 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.