Bank of New York Mellon Corp Has $4.04 Million Stake in Netskope Inc. $NTSK

Key Points

• Bank of New York Mellon increased its Netskope stake by 1,381.8% in the first quarter, holding 475,918 shares valued at approximately $4.04 million. Other major institutional investors, including Vanguard and Massachusetts Financial Services, also expanded their positions.
• Insiders were net sellers in the latest quarter, selling 3.53 million shares worth $33.0 million versus $22.0 million in purchases. Lightspeed Venture Partners and Director Arif Janmohamed each sold 1.31 million shares at an average price of $9.19.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $17.21. Netskope reported quarterly revenue of $201.59 million, up 27.8% year over year, and EPS of negative $0.06, slightly exceeding estimates.

Bank of New York Mellon Corp raised its holdings in Netskope Inc. (NASDAQ:NTSK - Free Report) by 1,381.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 475,918 shares of the company's stock after purchasing an additional 443,800 shares during the period. Bank of New York Mellon Corp owned approximately 0.12% of Netskope worth $4,041,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Scge Management L.P. acquired a new stake in Netskope during the third quarter worth approximately $312,104,000. Vanguard Group Inc. increased its position in shares of Netskope by 51.5% in the fourth quarter. Vanguard Group Inc. now owns 5,332,708 shares of the company's stock worth $93,536,000 after purchasing an additional 1,812,857 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Netskope by 11.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,561,508 shares of the company's stock valued at $62,469,000 after purchasing an additional 373,529 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Netskope by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,556,583 shares of the company's stock valued at $62,383,000 after purchasing an additional 456,321 shares in the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in Netskope during the fourth quarter worth about $60,882,000.

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 shares were sold at an average price of $9.19, for a total transaction of $12,074,070.13. Following the transaction, the insider owned 336,173 shares in the company, valued at approximately $3,089,429.87. The trade was a 79.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arif Janmohamed sold 1,313,827 shares of the business's 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 completion of the sale, the director directly owned 336,173 shares in the company, valued at approximately $3,089,429.87. This represents a 79.63% decrease in their position. The SEC filing for this sale 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 company insiders.

Wall Street Analyst Weigh In

NTSK has been the topic of several recent analyst reports. KeyCorp raised their target price on shares of Netskope from $14.00 to $16.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Netskope in a report on Wednesday, July 8th. Rosenblatt Securities began coverage on shares of Netskope in a research note on Tuesday, April 14th. They issued a "buy" rating and a $15.00 price objective on the stock. Mizuho cut their target price on Netskope from $15.00 to $13.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Finally, BTIG Research reduced their target price on Netskope from $17.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, June 4th. One 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's stock. According to MarketBeat.com, Netskope currently has an average rating of "Moderate Buy" and an average target price of $17.21.

Netskope Trading Down 4.3%

Shares of Netskope stock opened at $13.48 on Friday. The firm has a market capitalization of $5.44 billion and a PE ratio of -67.40. 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 firm's 50 day moving average is $11.36 and its 200 day moving average is $11.15. Netskope Inc. has a 1 year low of $7.66 and a 1 year high of $27.99.

Netskope (NASDAQ:NTSK - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $201.59 million during the quarter. The firm's revenue 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. Equities research analysts forecast that Netskope Inc. will post -0.88 earnings per share 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.

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