TimesSquare Capital Management LLC Takes Position in Netskope Inc. $NTSK

TimesSquare Capital Management LLC purchased a new position in shares of Netskope Inc. (NASDAQ:NTSK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,720,346 shares of the company’s stock, valued at approximately $61,833,000. TimesSquare Capital Management LLC owned approximately 0.71% of Netskope at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. purchased a new stake in shares of Netskope during the third quarter valued at $83,000. SBI Securities Co. Ltd. acquired a new position in shares of Netskope in the third quarter valued at about $89,000. Envestnet Asset Management Inc. purchased a new position in shares of Netskope in the third quarter worth about $249,000. New York Life Insurance Co. acquired a new stake in shares of Netskope during the third quarter worth about $31,236,000. Finally, Principal Financial Group Inc. purchased a new stake in Netskope in the third quarter valued at approximately $27,239,000.

Netskope Stock Performance

Netskope stock opened at $11.89 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. The company has a fifty day moving average of $16.60. The firm has a market cap of $4.68 billion and a PE ratio of -118.90. Netskope Inc. has a 1 year low of $11.28 and a 1 year high of $27.99.

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

Insider Activity at Netskope

In other Netskope news, CRO Raphael Bousquet sold 3,823 shares of the firm’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 accessible through this hyperlink. Also, CEO Sanjay Beri sold 346,061 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total transaction of $5,851,891.51. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NTSK. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research note on Friday, December 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Netskope in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a research note on Monday, December 29th. KeyCorp reduced their price target on Netskope from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, Robert W. Baird initiated coverage on Netskope in a research report on Monday, October 27th. They issued an “outperform” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

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.