3,519,851 Shares in Netskope Inc. $NTSK Purchased by Vanguard Group Inc.

Vanguard Group Inc. acquired a new position in Netskope Inc. (NASDAQ:NTSK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,519,851 shares of the company’s stock, valued at approximately $80,006,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. TimesSquare Capital Management LLC bought a new position in shares of Netskope in the 3rd quarter worth approximately $61,833,000. Assetmark Inc. bought a new position in Netskope in the third quarter worth $83,000. SBI Securities Co. Ltd. bought a new position in Netskope in the third quarter worth $89,000. Envestnet Asset Management Inc. purchased a new position in Netskope during the third quarter valued at $249,000. Finally, New York Life Insurance Co. bought a new stake in shares of Netskope during the 3rd quarter valued at $31,236,000.

Wall Street Analyst Weigh In

NTSK has been the subject of several research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Netskope in a research note on Wednesday, February 11th. Oppenheimer decreased their target price on shares of Netskope from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Monday. BTIG Research dropped their price target on Netskope from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday. TD Cowen cut their price target on Netskope from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, KeyCorp lowered their price objective on Netskope from $24.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.47.

Netskope Stock Up 9.3%

Shares of NTSK opened at $11.58 on Friday. Netskope Inc. has a twelve month low of $9.13 and a twelve month high of $27.99. The company has a market capitalization of $4.55 billion and a P/E ratio of -115.80. The firm’s 50 day moving average price is $13.99. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17.

Netskope (NASDAQ:NTSK) last issued its earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The business 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

In other Netskope news, CRO Raphael Bousquet sold 3,823 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $16.66, for a total value of $63,691.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matto Andrew H. Del sold 77,207 shares of Netskope stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $16.92, for a total transaction of $1,306,342.44. Following the transaction, the chief financial officer owned 41,493 shares in the company, valued at $702,061.56. This represents a 65.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,049,721 shares of company stock valued at $18,020,279.

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.