Netskope (NASDAQ:NTSK) Reaches New 1-Year Low – Here’s Why

Shares of Netskope Inc. (NASDAQ:NTSK) hit a new 52-week low during trading on Friday . The company traded as low as $20.92 and last traded at $21.04, with a volume of 80881 shares traded. The stock had previously closed at $21.79.

Analyst Upgrades and Downgrades

NTSK has been the topic of several recent research reports. Robert W. Baird initiated coverage on shares of Netskope in a research note on Monday, October 27th. They issued an “outperform” rating and a $27.00 price target on the stock. JMP Securities initiated coverage on shares of Netskope in a report on Monday, October 13th. They set a “market outperform” rating and a $27.00 target price on the stock. William Blair assumed coverage on shares of Netskope in a research note on Monday, October 13th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Netskope in a research note on Monday, October 13th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, BMO Capital Markets began coverage on shares of Netskope in a research note on Monday, October 13th. They issued an “outperform” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Netskope currently has a consensus rating of “Buy” and a consensus price target of $26.94.

Netskope Trading Down 2.2%

Insider Activity at Netskope

In related news, Director William J.G. Griffith purchased 2,000,000 shares of Netskope stock in a transaction dated 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 purchase, the director owned 11,238,175 shares in the company, valued at approximately $213,525,325. This trade represents a 21.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. bought a new stake in Netskope in the third quarter worth about $83,000. SBI Securities Co. Ltd. purchased a new position in Netskope in the third quarter valued at approximately $89,000. Envestnet Asset Management Inc. bought a new position in Netskope during the third quarter valued at $249,000. New York State Common Retirement Fund purchased a new stake in Netskope in the third quarter worth $943,000. Finally, Chicago Capital LLC purchased a new position in shares of Netskope during the 3rd quarter valued at $2,056,000.

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.