Netskope Inc. (NASDAQ:NTSK) Short Interest Up 76.4% in June

Netskope Inc. (NASDAQ:NTSK) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 26,867,322 shares, an increase of 76.4% from the June 15th total of 15,229,356 shares. Currently, 8.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,738,665 shares, the short-interest ratio is currently 3.1 days.

Netskope Trading Up 1.9%

Shares of Netskope stock opened at $13.50 on Friday. The company has a fifty day simple moving average of $10.97 and a 200-day simple moving average of $11.59. Netskope has a 12-month low of $7.66 and a 12-month high of $27.99. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 4.06. The stock has a market cap of $5.45 billion and a price-to-earnings ratio of -67.50.

Netskope (NASDAQ:NTSK) last released its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $201.59 million during the quarter. The firm’s quarterly revenue 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. On average, equities analysts forecast that Netskope will post -0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

NTSK has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on Netskope from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Rosenblatt Securities started coverage on shares of Netskope in a research report on Tuesday, April 14th. They issued a “buy” rating and a $15.00 target price on the stock. Royal Bank Of Canada set a $18.00 price target on shares of Netskope in a research report on Thursday, June 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Netskope in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Netskope from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Insider Buying and Selling at Netskope

In other news, Director Arif Janmohamed sold 1,313,827 shares of Netskope stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $9.19, for a total transaction of $12,074,070.13. Following the sale, the director owned 336,173 shares of the company’s stock, valued at approximately $3,089,429.87. The trade was a 79.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J.G. Griffith bought 610,291 shares of Netskope stock in a transaction on Wednesday, July 8th. The stock was acquired at an average price of $11.82 per share, for a total transaction of $7,213,639.62. Following the transaction, the director directly owned 610,291 shares of the company’s stock, valued at approximately $7,213,639.62. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 1,833,380 shares of company stock valued at $21,960,909 and sold 3,529,696 shares valued at $33,002,807. Corporate insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On Netskope

Several institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in shares of Netskope in the 4th quarter worth about $25,000. Quarry LP acquired a new stake in shares of Netskope during the third quarter worth $41,000. Triumph Capital Management lifted its holdings in shares of Netskope by 380.0% during the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after acquiring an additional 1,900 shares during the period. Wells Fargo & Company MN increased its position in Netskope by 261.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after purchasing an additional 2,617 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of Netskope in the 4th quarter worth $64,000.

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.