Iconiq Strategic Partners Viii Acquires 610,291 Shares of Netskope (NASDAQ:NTSK) Stock

Key Points

• Iconiq Strategic Partners VIII bought 610,291 shares of Netskope at $11.82 apiece, a transaction worth about $7.2 million. The purchase was disclosed in an SEC filing and increased the firm’s holdings to 610,291 shares.
• Netskope shares slipped 0.8% to $12.32 in Friday trading, while the stock remains well below its 12-month high of $27.99. The company’s recent trading range and moving averages suggest the stock has recovered somewhat from its lows but remains volatile.
• The company recently beat quarterly EPS estimates by $0.01 and posted revenue of $201.59 million, up 27.8% year over year. Analysts currently maintain a Moderate Buy consensus with an average target price of $17.11, though several firms have trimmed their price targets recently.

Netskope Inc. (NASDAQ:NTSK - Get Free Report) major shareholder Iconiq Strategic Partners Viii bought 610,291 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was purchased at an average price of $11.82 per share, with a total value of $7,213,639.62. Following the completion of the purchase, the insider directly owned 610,291 shares in the company, valued at $7,213,639.62. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Netskope Stock Down 0.8%

Shares of NTSK stock traded down $0.10 during trading on Friday, reaching $12.32. 3,986,452 shares of the company's stock were exchanged, compared to its average volume of 6,431,445. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 4.06. Netskope Inc. has a twelve month low of $7.66 and a twelve month high of $27.99. The firm's fifty day moving average price is $10.75 and its 200-day moving average price is $11.78.

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 during the quarter. The business's revenue for the quarter 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, research analysts predict that Netskope Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netskope

A number of hedge funds and other institutional investors have recently made changes to their positions in NTSK. Farther Finance Advisors LLC bought a new stake in shares of Netskope during the 4th quarter worth $25,000. Quarry LP acquired a new position in Netskope during the third quarter worth about $41,000. Triumph Capital Management raised its stake in Netskope by 380.0% during the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company's stock worth $42,000 after acquiring an additional 1,900 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Netskope by 261.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company's stock worth $63,000 after acquiring an additional 2,617 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Netskope in the 4th quarter valued at approximately $64,000.

Netskope News Summary

Here are the key news stories impacting Netskope this week:

• Positive Sentiment: Director William J.G. Griffith bought 610,291 shares at $11.82 each, a sizable insider purchase that can signal confidence in Netskope’s outlook. SEC filing
• Positive Sentiment: Major shareholder Iconiq Strategic Partners VIII also bought 610,291 shares at the same price, reinforcing the view that key insiders see value around current levels. SEC filing
• Neutral Sentiment: The company recently reported June short interest at 26.9 million shares, up 76.4% from mid-June and equal to 8.9% of shares sold short, which suggests a meaningful bearish bet but not necessarily an immediate catalyst.
• Negative Sentiment: Lightspeed Venture Partners sold shares on multiple recent dates, including 219,075 shares at $12.23 and smaller sales at $11.70, which can be viewed as insider profit-taking. SEC filing

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTSK. JPMorgan Chase & Co. decreased their target price on Netskope from $23.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 12th. Citizens Jmp reduced their price target on Netskope from $23.00 to $17.00 and set a "market outperform" rating for the company in a research note on Friday, May 1st. Wells Fargo & Company decreased their price objective on Netskope from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, June 5th. Morgan Stanley lowered their price objective on Netskope from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. Finally, Rosenblatt Securities assumed coverage on Netskope in a report on Tuesday, April 14th. They set a "buy" rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued 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 an average target price of $17.11.

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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