Netskope (NASDAQ:NTSK) Reaches New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

A number of analysts have recently weighed in on NTSK shares. Citigroup began coverage on shares of Netskope in a report on Monday, October 13th. They set an “outperform” rating for the company. UBS Group set a $27.00 price target on Netskope in a research report on Monday, October 13th. Zacks Research raised Netskope to a “hold” rating in a research note on Monday, October 20th. Baird R W upgraded Netskope to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Netskope in a research report on Monday, October 13th. They issued a “buy” rating and a $25.00 price target on the stock. One 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $26.94.

Netskope Stock Performance

Insider Buying and Selling at Netskope

In other Netskope news, Director William J.G. Griffith purchased 2,000,000 shares of the stock in a transaction on Friday, September 19th. The shares were bought at an average cost of $19.00 per share, with a total value of $38,000,000.00. Following the completion of the acquisition, the director 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Netskope

Several institutional investors and hedge funds have recently modified their holdings of NTSK. Vanguard Group Inc. acquired a new position in shares of Netskope in the third quarter worth $80,006,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Netskope during the 3rd quarter worth approximately $72,463,000. TimesSquare Capital Management LLC purchased a new stake in shares of Netskope in the 3rd quarter valued at about $61,833,000. New York Life Insurance Co. acquired a new stake in shares of Netskope in the third quarter valued at approximately $31,236,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Netskope in the third quarter valued at approximately $27,239,000.

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.