Netskope (NASDAQ:NTSK) Shares Down 4% – Here’s Why

Netskope Inc. (NASDAQ:NTSK) shares traded down 4% during trading on Wednesday . The stock traded as low as $17.69 and last traded at $17.79. 445,375 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,336,354 shares. The stock had previously closed at $18.53.

Analyst Upgrades and Downgrades

NTSK has been the subject of a number of research analyst reports. Mizuho assumed coverage on Netskope in a report on Monday, October 13th. They issued an “outperform” rating and a $25.00 price target for the company. Cowen started coverage on shares of Netskope in a research note on Monday, October 13th. They set a “buy” rating for the company. Citizens Jmp began coverage on Netskope in a research report on Monday, October 13th. They set a “mkt outperform” rating and a $27.00 price target on the stock. TD Cowen initiated coverage on Netskope in a research report on Monday, October 13th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Netskope in a research report on Monday, October 13th. They issued a “buy” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Netskope has a consensus rating of “Buy” and a consensus target price of $26.94.

Netskope Stock Down 3.8%

The company has a 50-day moving average of $21.78.

Insider Activity at Netskope

In related news, Director William J.G. Griffith acquired 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $38,000,000.00. Following the completion of the purchase, the director directly owned 11,238,175 shares in the company, valued at $213,525,325. This trade represents a 21.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Netskope

Institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Netskope in the third quarter valued at approximately $41,000. Assetmark Inc. acquired a new stake in Netskope in the third quarter worth approximately $83,000. RiverPark Advisors LLC bought a new position in Netskope during the 3rd quarter valued at $87,000. SBI Securities Co. Ltd. acquired a new position in shares of Netskope during the 3rd quarter valued at $89,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Netskope in the 3rd quarter worth $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.