Netskope Inc. (NASDAQ:NTSK) Sees Large Growth in Short Interest

Netskope Inc. (NASDAQ:NTSK) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 26,867,322 shares, a growth of 76.4% from the June 15th total of 15,229,356 shares. Approximately 8.9% of the company’s shares are sold short. Based on an average daily volume of 8,738,665 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Netskope from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. KeyCorp upped their price target on Netskope from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen lowered their price target on Netskope from $25.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, June 4th. Royal Bank Of Canada set a $18.00 price objective on Netskope in a research note on Thursday, June 4th. Finally, Citizens Jmp decreased their target price on Netskope from $23.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Insiders Place Their Bets

In related news, major shareholder Iconiq Strategic Partners Viii bought 64,771 shares of the stock in a transaction on Monday, July 13th. The stock was bought at an average price of $12.42 per share, with a total value of $804,455.82. Following the completion of the purchase, the insider directly owned 916,690 shares in the company, valued at $11,385,289.80. This represents a 7.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lightspeed Venture Partners Se sold 219,075 shares of Netskope stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.23, for a total transaction of $2,679,287.25. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders bought 1,833,380 shares of company stock valued at $21,960,909 and sold 3,529,696 shares valued at $33,002,807. 25.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netskope

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Abound Wealth Management purchased a new stake in shares of Netskope during the second quarter worth approximately $496,000. Wasatch Advisors LP acquired a new position in Netskope during the 2nd quarter worth approximately $25,107,000. Camelot Technology Advisors Inc. acquired a new position in Netskope during the 2nd quarter worth approximately $193,000. FNY Investment Advisers LLC increased its position in shares of Netskope by 88.9% in the 2nd quarter. FNY Investment Advisers LLC now owns 8,500 shares of the company’s stock valued at $92,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Netskope in the 2nd quarter valued at $104,000.

Netskope Stock Up 0.7%

Shares of NASDAQ:NTSK traded up $0.09 during trading on Friday, hitting $13.59. The company’s stock had a trading volume of 5,928,442 shares, compared to its average volume of 4,837,738. Netskope has a fifty-two week low of $7.66 and a fifty-two week high of $27.99. The business has a 50 day moving average price of $11.01 and a two-hundred day moving average price of $11.60. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.16 and a current ratio of 2.17. The company has a market capitalization of $5.49 billion and a PE ratio of -67.95.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $201.59 million during the quarter. The business’s revenue was up 27.8% compared to the same quarter last year. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. As a group, research analysts expect that Netskope will post -0.88 EPS for the current fiscal year.

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.