Netskope (NASDAQ:NTSK) Reaches New 12-Month Low – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $14.23 and last traded at $14.99, with a volume of 2883772 shares. The stock had previously closed at $14.76.

Analyst Ratings Changes

A number of research analysts have weighed in on NTSK shares. Baird R W raised shares of Netskope to a “strong-buy” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. Citigroup started coverage on Netskope in a report on Monday, October 13th. They issued an “outperform” rating on the stock. BTIG Research initiated coverage on Netskope in a research report on Monday, October 13th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.71.

Netskope Price Performance

The business’s 50 day moving average price is $18.43. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a market cap of $5.89 billion and a PE ratio of -149.90.

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

Insider Buying and Selling at Netskope

In other news, CEO Sanjay Beri sold 31,594 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total transaction of $555,422.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matto Andrew H. Del sold 49,875 shares of Netskope stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total transaction of $855,855.00. Following the sale, the chief financial officer owned 41,493 shares in the company, valued at approximately $712,019.88. This trade represents a 54.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,049,721 shares of company stock valued at $18,020,279 in the last 90 days.

Hedge Funds Weigh In On Netskope

A number of hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Netskope during the 3rd quarter worth approximately $41,000. Assetmark Inc. bought a new position in shares of Netskope during the third quarter valued at $83,000. RiverPark Advisors LLC acquired a new stake in shares of Netskope in the 3rd quarter valued at $87,000. SBI Securities Co. Ltd. bought a new stake in shares of Netskope in the 3rd quarter worth about $89,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Netskope during the 3rd quarter worth about $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. 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.