NewGen Asset Management Ltd Invests $3.55 Million in Netskope Inc. $NTSK

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

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Assetmark Inc. acquired a new stake in shares of Netskope during the third quarter worth $83,000. SBI Securities Co. Ltd. acquired a new position in shares of Netskope during the 3rd quarter worth about $89,000. Ameriflex Group Inc. acquired a new position in shares of Netskope during the 3rd quarter worth about $127,000. Envestnet Asset Management Inc. bought a new stake in shares of Netskope in the 3rd quarter valued at about $249,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Netskope in the 3rd quarter valued at approximately $341,000.

Netskope Stock Performance

Shares of Netskope stock opened at $12.29 on Tuesday. The firm has a market cap of $4.83 billion and a price-to-earnings ratio of -122.90. The company has a 50 day moving average price of $13.73. The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32. Netskope Inc. has a 52-week low of $9.13 and a 52-week high of $27.99.

Netskope (NASDAQ:NTSK) last released its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates 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. The firm’s quarterly revenue was up 33.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a research note on Friday, December 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a research note on Wednesday, February 11th. BTIG Research reduced their target price on Netskope from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. FBN Securities began coverage on Netskope in a report on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $26.00 price target on shares of Netskope in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.47.

Insider Transactions at Netskope

In related news, CFO Matto Andrew H. Del sold 49,875 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total transaction of $855,855.00. Following the completion of the transaction, the chief financial officer owned 41,493 shares in the company, valued at approximately $712,019.88. This represents a 54.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Beri sold 31,594 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total transaction of $555,422.52. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,049,721 shares of company stock valued at $18,020,279 over the last 90 days.

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.