150,000 Shares in Netskope Inc. $NTSK Purchased by NewGen Asset Management Ltd

NewGen Asset Management Ltd purchased a new stake in shares of Netskope Inc. (NASDAQ:NTSK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,000 shares of the company’s stock, valued at approximately $3,546,000. Netskope comprises about 1.0% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. acquired a new position in shares of Netskope during the 3rd quarter worth approximately $83,000. SBI Securities Co. Ltd. acquired a new stake in shares of Netskope in the 3rd quarter valued at approximately $89,000. Ameriflex Group Inc. bought a new position in shares of Netskope in the third quarter valued at $127,000. Envestnet Asset Management Inc. bought a new position in shares of Netskope in the third quarter valued at $249,000. Finally, Readystate Asset Management LP acquired a new position in Netskope during the third quarter worth $341,000.

Insider Buying and Selling

In related news, CFO Matto Andrew H. Del sold 49,875 shares of Netskope stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $17.16, for a total transaction of $855,855.00. Following the completion of the sale, the chief financial officer directly owned 41,493 shares of the company’s stock, valued at approximately $712,019.88. This trade represents a 54.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Beri sold 31,594 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total value of $555,422.52. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Analysts Set New Price Targets

NTSK has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Wells Fargo & Company initiated coverage on shares of Netskope in a report on Tuesday, March 3rd. They issued an “overweight” rating and a $13.00 target price on the stock. TD Cowen cut their target price on shares of Netskope from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $26.00 price target on shares of Netskope in a report on Friday, December 12th. Finally, Oppenheimer cut their price objective on Netskope from $28.00 to $23.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.47.

Netskope Stock Performance

NASDAQ NTSK opened at $12.29 on Tuesday. The firm has a market cap of $4.83 billion and a PE ratio of -122.90. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17. The business’s 50-day moving average is $13.73. Netskope Inc. has a 52-week low of $9.13 and a 52-week high of $27.99.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The company had revenue of $184.17 million during the quarter, compared to analyst estimates of $175.81 million. The company’s quarterly revenue was up 33.0% on a year-over-year basis.

Netskope Company Profile

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.