Vanguard Group Inc. Invests $80.01 Million in Netskope Inc. $NTSK

Key Points

• Vanguard Group built a new position in Netskope during Q3, acquiring 3,519,851 shares worth about $80.01 million and owning roughly 0.92% of the company.
• Netskope holds a consensus analyst rating of Moderate Buy with a consensus target price of $23.47, though several firms recently trimmed price targets while maintaining buy/outperform stances.
• Insiders have been net sellers—about 1,049,721 shares worth roughly $18.02 million sold in the last 90 days—while the stock traded at $11.58 (up 9.3%), with a market cap of $4.55 billion and a 12‑month range of $9.13–$27.99.

Vanguard Group Inc. acquired a new stake in shares of Netskope Inc. (NASDAQ:NTSK - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,519,851 shares of the company's stock, valued at approximately $80,006,000. Vanguard Group Inc. owned approximately 0.92% of Netskope as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

NTSK has been the subject of a number of recent research reports. BTIG Research lowered their price objective on shares of Netskope from $27.00 to $22.00 and set a "buy" rating for the company in a report on Monday. Royal Bank Of Canada reissued an "outperform" rating on shares of Netskope in a research note on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $26.00 price target on shares of Netskope in a research report on Friday, December 12th. Mizuho decreased their price objective on Netskope from $26.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, February 17th. Finally, Piper Sandler restated an "overweight" rating on shares of Netskope in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Netskope currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.47.

Netskope Stock Up 9.3%

Shares of Netskope stock opened at $11.58 on Friday. The stock has a fifty day moving average price of $13.99. Netskope Inc. has a 12-month low of $9.13 and a 12-month high of $27.99. The company has a market cap of $4.55 billion and a price-to-earnings ratio of -115.80. The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32.

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 firm had revenue of $184.17 million for the quarter, compared to analysts' expectations of $175.81 million. The company's quarterly revenue was up 33.0% compared to the same quarter last year.

Insiders Place Their Bets

In related news, CEO Sanjay Beri sold 31,594 shares of the firm's stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $17.58, for a total value of $555,422.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Raphael Bousquet sold 3,823 shares of the business's stock in a transaction on Monday, January 12th. The shares were sold at an average price of $16.66, for a total transaction of $63,691.18. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,049,721 shares of company stock worth $18,020,279.

Netskope 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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