Netskope (NASDAQ:NTSK) Hits New 1-Year Low – Time to Sell?

Netskope Inc. (NASDAQ:NTSK)’s share price hit a new 52-week low on Wednesday . The company traded as low as $17.81 and last traded at $18.77, with a volume of 2963697 shares. The stock had previously closed at $19.33.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NTSK. UBS Group set a $27.00 price objective on Netskope in a research report on Monday, October 13th. Zacks Research raised shares of Netskope to a “hold” rating in a report on Monday, October 20th. KeyCorp began coverage on shares of Netskope in a research report on Monday, October 13th. They set an “overweight” rating and a $27.00 price target for the company. BTIG Research started coverage on shares of Netskope in a research report on Monday, October 13th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, BMO Capital Markets started coverage on shares of Netskope in a research report on Monday, October 13th. They issued an “outperform” rating and a $26.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Netskope currently has an average rating of “Buy” and an average target price of $26.94.

Netskope Stock Performance

Insider Activity at Netskope

In related news, Director William J.G. Griffith purchased 2,000,000 shares of the company’s stock in a transaction on Friday, September 19th. The shares were bought at an average cost of $19.00 per share, for a total transaction of $38,000,000.00. Following the transaction, the director owned 11,238,175 shares of the company’s stock, valued at $213,525,325. This represents a 21.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Institutional Investors Weigh In On Netskope

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Netskope during the 3rd quarter valued at $41,000. Assetmark Inc. acquired a new stake in shares of Netskope in the third quarter valued at $83,000. RiverPark Advisors LLC bought a new position in Netskope during the third quarter valued at about $87,000. SBI Securities Co. Ltd. acquired a new position in Netskope during the third quarter worth about $89,000. Finally, Ameriflex Group Inc. acquired a new position in Netskope during the third quarter worth about $127,000.

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.