Insider Buying: Netskope (NASDAQ:NTSK) Major Shareholder Purchases $804,455.82 in Stock

Key Points

• Major shareholder Iconiq Strategic Partners Viii bought 64,771 shares of Netskope at an average price of $12.42, spending about $804,456. Following the purchase, it owned 916,690 shares, a 7.6% increase in its position.
• The insider’s latest purchase comes after two larger recent buys on July 10 and July 8, totaling more than $10 million combined, signaling continued accumulation of Netskope stock.
• Netskope shares rose to $14.27 amid heavy trading, while analysts maintain a Moderate Buy consensus with an average target price of $17.11. The company also reported stronger-than-expected quarterly results, with revenue up 27.8% year over year.

Netskope Inc. (NASDAQ:NTSK - Get Free Report) major shareholder Iconiq Strategic Partners Viii purchased 64,771 shares of the business's stock in a transaction that occurred on Monday, July 13th. The stock was bought at an average cost of $12.42 per share, for a total transaction of $804,455.82. Following the completion of the acquisition, the insider directly owned 916,690 shares in the company, valued at $11,385,289.80. The trade was a 7.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Iconiq Strategic Partners Viii also recently made the following trade(s):

• On Friday, July 10th, Iconiq Strategic Partners Viii acquired 241,628 shares of Netskope stock. The shares were bought at an average price of $12.26 per share, with a total value of $2,962,359.28.
• On Wednesday, July 8th, Iconiq Strategic Partners Viii acquired 610,291 shares of Netskope stock. The stock was bought at an average cost of $11.82 per share, for a total transaction of $7,213,639.62.

Netskope Stock Performance

Netskope stock traded up $1.47 during trading on Tuesday, hitting $14.27. The stock had a trading volume of 10,148,206 shares, compared to its average volume of 4,680,417. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 4.06. The stock's 50 day moving average is $10.81 and its two-hundred day moving average is $11.69. 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 $5.76 billion and a price-to-earnings ratio of -71.35.

Netskope (NASDAQ:NTSK - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $201.59 million for the quarter. The business'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. As a group, analysts predict that Netskope Inc. will post -0.88 EPS for the current year.

Analyst Ratings Changes

NTSK has been the subject of several recent research reports. Mizuho reduced their target price on shares of Netskope from $15.00 to $13.00 and set an "outperform" rating for the company in a research note on Thursday, June 4th. Piper Sandler dropped their price target on shares of Netskope from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. TD Cowen cut their price objective on shares of Netskope from $25.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, June 4th. Royal Bank Of Canada set a $18.00 price objective on shares of Netskope in a research note on Thursday, June 4th. Finally, Oppenheimer dropped their target price on Netskope from $19.00 to $16.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Abound Wealth Management purchased a new stake in shares of Netskope in the second quarter worth about $496,000. Wasatch Advisors LP bought a new position in shares of Netskope in the second quarter valued at approximately $25,107,000. Camelot Technology Advisors Inc. purchased a new position in Netskope during the second quarter valued at approximately $193,000. FNY Investment Advisers LLC grew its stake in Netskope by 88.9% during the second quarter. FNY Investment Advisers LLC now owns 8,500 shares of the company's stock valued at $92,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Bangor Savings Bank bought a new stake in Netskope during the 2nd quarter worth approximately $104,000.

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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