294,161 Shares in Netskope Inc. $NTSK Acquired by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC opened a new position in Netskope of 294,161 shares in Q3 (about $6.69M), while other institutions like Massachusetts Financial Services and Principal also added sizable stakes.
• Insiders have been net sellers: the CFO sold 49,875 shares and the CEO sold 31,594 shares in early January, with insiders offloading 1,049,721 shares worth roughly $18.0M over the past 90 days.
• Operational snapshot: Netskope beat Q3 estimates with $184.17M revenue (up 33% y/y) and EPS of -$0.10, but the stock trades lower (opened $11.29), carries a negative P/E, and holds a consensus "Moderate Buy" rating with an average price target of ~$23.47.

Neuberger Berman Group LLC bought a new position in Netskope Inc. (NASDAQ:NTSK - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 294,161 shares of the company's stock, valued at approximately $6,686,000. Neuberger Berman Group LLC owned approximately 0.08% of Netskope as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NTSK. Chicago Capital LLC acquired a new stake in shares of Netskope during the 3rd quarter worth approximately $2,056,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Netskope during the 3rd quarter valued at $72,463,000. Federated Hermes Inc. bought a new position in Netskope during the third quarter worth $18,184,000. New York State Common Retirement Fund bought a new position in Netskope during the third quarter worth $943,000. Finally, Principal Financial Group Inc. acquired a new stake in Netskope in the third quarter worth $27,239,000.

Insiders Place Their Bets

In other Netskope news, CFO Matto Andrew H. Del sold 49,875 shares of the firm's stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.16, for a total transaction of $855,855.00. Following the transaction, the chief financial officer directly owned 41,493 shares in the company, valued at approximately $712,019.88. This trade represents a 54.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Beri sold 31,594 shares of the company's stock in a transaction on Wednesday, January 7th. The stock was 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. In the last ninety days, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Netskope Trading Down 2.5%

Netskope stock opened at $11.29 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 fifty day simple moving average of $13.85. The company has a market capitalization of $4.44 billion and a price-to-earnings ratio of -112.90. Netskope Inc. has a 1-year low of $9.13 and a 1-year high of $27.99.

Netskope (NASDAQ:NTSK - Get Free Report) last posted its 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 business had revenue of $184.17 million during the quarter, compared to analyst estimates of $175.81 million. The business's revenue was up 33.0% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NTSK shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $26.00 price objective on shares of Netskope in a report on Friday, December 12th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Netskope in a research report on Wednesday, February 11th. TD Cowen cut their price target on Netskope from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. Piper Sandler reissued an "overweight" rating on shares of Netskope in a research note on Friday, December 12th. Finally, FBN Securities initiated coverage on Netskope in a report on Wednesday, February 25th. They set an "outperform" rating and a $15.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Netskope has a consensus rating of "Moderate Buy" and an average price target of $23.47.

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.

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