TimesSquare Capital Management LLC Takes Position in Netskope Inc. $NTSK

TimesSquare Capital Management LLC purchased a new stake in Netskope Inc. (NASDAQ:NTSK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,720,346 shares of the company’s stock, valued at approximately $61,833,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new stake in shares of Netskope in the 3rd quarter worth $83,000. SBI Securities Co. Ltd. acquired a new stake in Netskope during the third quarter worth about $89,000. Envestnet Asset Management Inc. purchased a new position in Netskope during the third quarter worth about $249,000. New York State Common Retirement Fund purchased a new position in Netskope during the third quarter worth about $943,000. Finally, Chicago Capital LLC acquired a new position in Netskope in the 3rd quarter valued at about $2,056,000.

Netskope Trading Up 3.5%

Shares of NASDAQ NTSK opened at $11.89 on Friday. 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 firm has a market capitalization of $4.68 billion and a PE ratio of -118.90. Netskope Inc. has a twelve month low of $11.28 and a twelve month high of $27.99. The company has a fifty day moving average price of $16.60.

Netskope (NASDAQ:NTSK) last announced its 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 firm had revenue of $184.17 million for the quarter, compared to analysts’ expectations of $175.81 million. The business’s revenue for the quarter was up 33.0% on a year-over-year basis.

Analyst Ratings Changes

NTSK has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Netskope in a research report on Wednesday. Zacks Research upgraded Netskope to a “hold” rating in a report on Monday, October 20th. KeyCorp decreased their target price on shares of Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netskope in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

Insider Activity

In related news, CRO Raphael Bousquet sold 3,823 shares of Netskope stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $16.66, for a total value of $63,691.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matto Andrew H. Del sold 77,207 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.92, for a total transaction of $1,306,342.44. Following the sale, the chief financial officer owned 41,493 shares in the company, valued at approximately $702,061.56. This trade represents a 65.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

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.