1,198,389 Shares in Netskope Inc. $NTSK Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in Netskope Inc. (NASDAQ:NTSK) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,198,389 shares of the company’s stock, valued at approximately $27,239,000.

Several other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Netskope during the third quarter valued at approximately $72,463,000. Federated Hermes Inc. acquired a new stake in shares of Netskope in the third quarter worth approximately $18,184,000. Chicago Capital LLC purchased a new stake in shares of Netskope during the third quarter worth approximately $2,056,000. Finally, New York State Common Retirement Fund acquired a new position in Netskope in the 3rd quarter valued at $943,000.

Netskope Trading Up 4.2%

Netskope stock opened at $12.00 on Friday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17. The stock’s 50-day moving average price is $17.30. Netskope Inc. has a 12-month low of $11.36 and a 12-month high of $27.99. The firm has a market capitalization of $4.72 billion and a PE ratio of -120.00.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.15. The firm had revenue of $184.17 million during the quarter, compared to analysts’ expectations of $175.81 million. Netskope’s revenue for the quarter was up 33.0% on a year-over-year basis.

Insider Buying and Selling at Netskope

In other news, CRO Raphael Bousquet sold 3,823 shares of the company’s stock in a transaction on Monday, January 12th. The stock was 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 SEC, 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 stock was sold at an average price of $17.58, for a total value 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 over the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $26.00 target price on shares of Netskope in a research note on Friday, December 12th. Piper Sandler reissued an “overweight” rating on shares of Netskope in a research note on Friday, December 12th. Robert W. Baird started coverage on shares of Netskope in a research note on Monday, October 27th. They set an “outperform” rating and a $27.00 price objective for the company. Citigroup began coverage on shares of Netskope in a report on Monday, October 13th. They issued an “outperform” rating for the company. Finally, UBS Group set a $27.00 target price on shares of Netskope in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Netskope currently has an average rating of “Moderate Buy” and a consensus price target of $26.71.

About Netskope

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.