Netskope (NASDAQ:NTSK) Shares Down 6.5% – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK) fell 6.5% during trading on Wednesday . The company traded as low as $12.38 and last traded at $12.4690. Approximately 613,893 shares traded hands during trading, a decline of 87% from the average session volume of 4,663,082 shares. The stock had previously closed at $13.33.

Analysts Set New Price Targets

Several brokerages recently weighed in on NTSK. BTIG Research decreased their price objective on Netskope from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Oppenheimer dropped their price objective on shares of Netskope from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. BMO Capital Markets reduced their target price on shares of Netskope from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Netskope in a research report on Wednesday, July 8th. Finally, KeyCorp upped their price target on shares of Netskope from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Netskope Price Performance

The stock has a market capitalization of $4.51 billion and a P/E ratio of -55.85. 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 firm has a 50-day moving average price of $11.14 and a 200 day moving average price of $11.41.

Netskope (NASDAQ:NTSK) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $201.59 million during the quarter. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. On average, analysts expect that Netskope Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling at Netskope

In other news, Director Arif Janmohamed sold 336,173 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $9.00, for a total value of $3,025,557.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners Viii bought 64,771 shares of Netskope stock in a transaction that occurred on Monday, July 13th. The shares were acquired at an average cost of $12.42 per share, for a total transaction of $804,455.82. Following the acquisition, the insider owned 916,690 shares in the company, valued at $11,385,289.80. The trade was a 7.60% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 1,833,380 shares of company stock valued at $21,960,909 and have 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 large investors have recently bought and sold shares of the stock. Scge Management L.P. bought a new position in Netskope during the 3rd quarter valued at approximately $312,104,000. Public Sector Pension Investment Board bought a new stake in shares of Netskope in the 4th quarter worth approximately $60,882,000. Wasatch Advisors LP purchased a new position in shares of Netskope during the second quarter valued at approximately $25,107,000. Vanguard Group Inc. increased its stake in shares of Netskope by 51.5% during the fourth quarter. Vanguard Group Inc. now owns 5,332,708 shares of the company’s stock valued at $93,536,000 after buying an additional 1,812,857 shares during the period. Finally, BIT Capital GmbH bought a new position in shares of Netskope during the fourth quarter valued at approximately $27,683,000.

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.