Netskope (NASDAQ:NTSK) Major Shareholder Buys $2,962,359.28 in Stock

Netskope Inc. (NASDAQ:NTSK) major shareholder Iconiq Strategic Partners Viii purchased 241,628 shares of the stock in a transaction on Friday, July 10th. The stock was acquired at an average cost of $12.26 per share, with a total value of $2,962,359.28. Following the acquisition, the insider owned 851,919 shares of the company’s stock, valued at approximately $10,444,526.94. This represents a 39.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Iconiq Strategic Partners Viii also recently made the following trade(s):

• On Monday, July 13th, Iconiq Strategic Partners Viii purchased 64,771 shares of Netskope stock. The shares were acquired at an average price of $12.42 per share, for a total transaction of $804,455.82.
• On Wednesday, July 8th, Iconiq Strategic Partners Viii acquired 610,291 shares of Netskope stock. The shares were bought at an average price of $11.82 per share, for a total transaction of $7,213,639.62.

Netskope Stock Performance

Shares of Netskope stock opened at $13.50 on Friday. The company has a 50 day moving average price of $10.97 and a 200 day moving average price of $11.59. The firm has a market capitalization of $5.45 billion and a P/E ratio of -67.50. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 4.06. Netskope Inc. has a 52 week low of $7.66 and a 52 week high of $27.99.

Netskope (NASDAQ:NTSK) last issued its quarterly earnings results 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 company had revenue of $201.59 million for the quarter. The company’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. Sell-side analysts expect that Netskope Inc. will post -0.88 EPS for the current year.

Wall Street Analyst Weigh In

NTSK has been the topic of several research reports. Rosenblatt Securities assumed coverage on Netskope in a research report on Tuesday, April 14th. They issued a “buy” rating and a $15.00 target price on the stock. Morgan Stanley lowered their price target on Netskope from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Wells Fargo & Company cut their price objective on Netskope from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. BMO Capital Markets reduced their price objective on Netskope from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Robert W. Baird decreased their target price on Netskope from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Institutional Trading of Netskope

A number of hedge funds and other institutional investors have recently made changes to their positions in NTSK. Abound Wealth Management purchased a new position in shares of Netskope during the second quarter worth $496,000. Wasatch Advisors LP purchased a new stake in Netskope in the second quarter valued at $25,107,000. Camelot Technology Advisors Inc. acquired a new stake in Netskope during the 2nd quarter worth about $193,000. FNY Investment Advisers LLC grew its position in Netskope by 88.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,500 shares of the company’s stock worth $92,000 after purchasing an additional 4,000 shares during the period. Finally, Bangor Savings Bank purchased a new position in shares of Netskope during the 2nd quarter valued at about $104,000.

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.