Alta Park Capital LP Sells 403,722 Shares of Netskope Inc. $NTSK

Key Points

• Alta Park Capital LP cut its Netskope stake by 30.8% in the fourth quarter, selling 403,722 shares and leaving it with 909,091 shares worth about $15.9 million.
• Insider selling has been heavy, with Lightspeed Venture Partners and Director Arif Janmohamed each selling 1.31 million shares at $9.19 per share; insiders sold 3.3 million shares total over the last 90 days.
• Netskope beat quarterly EPS estimates with a loss of $0.06 per share versus the expected $0.07 loss, while revenue rose 27.8% year over year to $201.59 million. Analysts currently rate the stock a “Moderate Buy” with a consensus price target of $17.16.

Alta Park Capital LP lowered its stake in Netskope Inc. (NASDAQ:NTSK - Free Report) by 30.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 909,091 shares of the company's stock after selling 403,722 shares during the quarter. Netskope accounts for approximately 1.9% of Alta Park Capital LP's portfolio, making the stock its 25th largest position. Alta Park Capital LP owned approximately 0.23% of Netskope worth $15,945,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NTSK. ICONIQ Capital LLC bought a new stake in shares of Netskope in the 3rd quarter valued at $1,506,261,000. Scge Management L.P. acquired a new stake in Netskope in the 3rd quarter valued at $312,104,000. Vanguard Group Inc. acquired a new stake in Netskope in the 3rd quarter valued at $80,006,000. Public Sector Pension Investment Board acquired a new stake in Netskope in the 4th quarter valued at $60,882,000. Finally, Bamco Inc. NY acquired a new stake in Netskope in the 3rd quarter valued at $52,888,000.

Insider Buying and Selling at Netskope

In other news, major shareholder Lightspeed Venture Partners Se sold 1,313,827 shares of Netskope stock in a transaction on Friday, June 12th. The stock was sold at an average price of $9.19, for a total transaction of $12,074,070.13. Following the sale, the insider directly owned 336,173 shares in the company, valued at $3,089,429.87. The trade was a 79.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arif Janmohamed sold 1,313,827 shares of Netskope stock in a transaction on Friday, June 12th. The stock was sold at an average price of $9.19, for a total value of $12,074,070.13. Following the sale, the director owned 336,173 shares in the company, valued at $3,089,429.87. The trade was a 79.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,300,000 shares of company stock worth $30,199,254. Company insiders own 25.52% of the company's stock.

Analyst Ratings Changes

NTSK has been the subject of several research reports. Rosenblatt Securities initiated coverage on shares of Netskope in a research report on Tuesday, April 14th. They issued a "buy" rating and a $15.00 price target for the company. BMO Capital Markets reduced their price target on shares of Netskope from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. William Blair set a $21.00 price target on shares of Netskope in a research report on Thursday, March 12th. Mizuho reduced their price target on shares of Netskope from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Thursday, June 4th. Finally, Robert W. Baird reduced their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.16.

Netskope Price Performance

Shares of NASDAQ:NTSK opened at $8.72 on Thursday. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 4.06. The stock's fifty day simple moving average is $10.34 and its two-hundred day simple moving average is $12.83. Netskope Inc. has a 1-year low of $7.66 and a 1-year high of $27.99. The stock has a market cap of $3.52 billion and a PE ratio of -43.60.

Netskope (NASDAQ:NTSK - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $201.59 million for the quarter. The company'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, analysts forecast that Netskope Inc. will post -0.88 EPS for the current fiscal year.

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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