Netskope (NASDAQ:NTSK) Shares Gap Up on Insider Buying Activity

Netskope Inc. (NASDAQ:NTSK)’s share price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $12.32, but opened at $12.87. Netskope shares last traded at $12.1920, with a volume of 571,008 shares trading hands.

Specifically, Director William J.G. Griffith bought 610,291 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were acquired at an average cost of $11.82 per share, with a total value of $7,213,639.62. Following the completion of the purchase, the director directly owned 610,291 shares of the company’s stock, valued at $7,213,639.62. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Viii bought 610,291 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were bought at an average price of $11.82 per share, with a total value of $7,213,639.62. Following the completion of the transaction, the insider owned 610,291 shares of the company’s stock, valued at $7,213,639.62. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets decreased their price target on shares of Netskope from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Robert W. Baird cut their target price on shares of Netskope from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. TD Cowen reduced their target price on Netskope from $25.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Rosenblatt Securities started coverage on Netskope in a research report on Tuesday, April 14th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Mizuho dropped their price target on Netskope from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.11.

Netskope Stock Performance

The company has a market cap of $4.93 billion and a P/E ratio of -61.03. The company’s fifty day moving average is $10.75 and its 200 day moving average is $11.73. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 4.06.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $201.59 million for the quarter. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. As a group, equities analysts predict that Netskope Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netskope

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