Mirae Asset Global Investments Co. Ltd. Purchases 105,399 Shares of Netskope Inc. $NTSK

Key Points

• Mirae Asset Global Investments initiated a Netskope stake in the third quarter, buying 105,399 shares valued at approximately $1.84 million. Several other institutional investors also reported new or increased holdings.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $19.66; targets range from $16 to $22 in the cited reports.
• Netskope beat quarterly EPS expectations, reporting a loss of $0.03 per share versus the estimated $0.26 loss, on $220.54 million in revenue.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Netskope Inc. (NASDAQ:NTSK - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 105,399 shares of the company's stock, valued at approximately $1,838,000.

Other large investors have also recently bought and sold shares of the company. Wasatch Advisors LP bought a new position in Netskope during the 2nd quarter valued at about $25,107,000. Principal Financial Group Inc. grew its stake in Netskope by 31.4% during the first quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company's stock worth $21,628,000 after buying an additional 608,355 shares during the last quarter. New York Life Insurance Co. bought a new stake in Netskope during the second quarter worth about $11,325,580. Wellington Management Group LLP bought a new stake in Netskope during the second quarter worth about $2,027,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Netskope by 1,381.8% during the first quarter. Bank of New York Mellon Corp now owns 475,918 shares of the company's stock worth $4,041,000 after buying an additional 443,800 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Netskope from $17.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Weiss Ratings restated a "sell (e+)" rating on shares of Netskope in a research report on Friday, October 2nd. TD Cowen reaffirmed a "buy" rating and set a $19.00 price target on shares of Netskope in a report on Monday, August 17th. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on Netskope in a research report on Monday, August 17th. Finally, Morgan Stanley boosted their price objective on Netskope from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.66.

Insider Activity

In other news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of the company's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $14.90, for a total transaction of $158,252.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 25.52% of the stock is owned by company insiders.

Netskope Stock Down 1.7%

NASDAQ:NTSK opened at $21.30 on Friday. The stock's fifty day moving average price is $19.12 and its two-hundred day moving average price is $13.40. Netskope Inc. has a 52-week low of $7.66 and a 52-week high of $26.71. The company has a debt-to-equity ratio of 4.45, a quick ratio of 2.00 and a current ratio of 2.01. The company has a market cap of $8.70 billion, a price-to-earnings ratio of -8.35 and a beta of 2.43.

Netskope (NASDAQ:NTSK - Get Free Report) last released its earnings results on Wednesday, September 2nd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.23. The company had revenue of $220.54 million during the quarter. Netskope had a negative return on equity of 83.84% and a negative net margin of 91.84%. Netskope has set its FY 2027 guidance at -0.150--0.150 EPS and its Q3 2027 guidance at -0.040--0.030 EPS. On average, analysts anticipate that Netskope Inc. will post -0.82 EPS for the current year.

Netskope Profile

Netskope, Inc is a cybersecurity company that provides cloud-based security and networking solutions for organizations operating in cloud, web, data center and remote-work environments. Its platform is designed to help enterprises protect data, applications and users while providing visibility and control across distributed information-technology environments.

The company's Netskope One platform brings together security service edge (SSE) and secure access service edge (SASE) capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.