Insider Selling: Netskope (NASDAQ:NTSK) CRO Sells $52,284.96 in Stock

Key Points

• CRO Raphael Bousquet sold a total of 10,239 shares across Jan. 8–12, netting about $170,687, according to an SEC filing (individual sales: 3,224 on Jan. 8, 3,192 on Jan. 9, 3,823 on Jan. 12).
• Q4 results beat expectations: Netskope reported ($0.10) EPS vs. ($0.25) estimate and revenue of $184.17M, up 33% year-over-year, topping revenue consensus.
• Shares traded around $16.56, near the one-year low ($15.99) and below the 50-day MA ($19.26); MarketBeat’s consensus is a "Moderate Buy" with a $26.71 price target and the company has a $6.51B market cap.

Netskope Inc. (NASDAQ:NTSK - Get Free Report) CRO Raphael Bousquet sold 3,192 shares of the firm's stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $16.38, for a total value of $52,284.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Raphael Bousquet also recently made the following trade(s):

• On Monday, January 12th, Raphael Bousquet sold 3,823 shares of Netskope stock. The stock was sold at an average price of $16.66, for a total value of $63,691.18.
• On Thursday, January 8th, Raphael Bousquet sold 3,224 shares of Netskope stock. The stock was sold at an average price of $16.97, for a total value of $54,711.28.

Netskope Price Performance

Shares of NASDAQ NTSK traded down $0.07 during midday trading on Monday, reaching $16.56. 3,625,217 shares of the stock traded hands, compared to its average volume of 3,223,706. The stock has a 50 day moving average of $19.26. Netskope Inc. has a one year low of $15.99 and a one year high of $27.99. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. The company has a market capitalization of $6.51 billion and a PE ratio of -165.60.

Netskope (NASDAQ:NTSK - Get Free Report) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.15. The business had revenue of $184.17 million during the quarter, compared to the consensus estimate of $175.81 million. The business's revenue was up 33.0% compared to the same quarter last year.

Institutional Trading of Netskope

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ICONIQ Capital LLC purchased a new position in shares of Netskope in the 3rd quarter valued at $1,506,261,000. Scge Management L.P. purchased a new stake in shares of Netskope during the third quarter valued at about $312,104,000. Vanguard Group Inc. purchased a new stake in shares of Netskope during the third quarter valued at about $80,006,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Netskope in the 3rd quarter valued at about $72,463,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Netskope in the 3rd quarter worth approximately $61,833,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Netskope in a research report on Monday, December 29th. BTIG Research started coverage on shares of Netskope in a report on Monday, October 13th. They issued a "buy" rating and a $27.00 target price for the company. William Blair assumed coverage on shares of Netskope in a report on Monday, October 13th. They set an "outperform" rating on the stock. JMP Securities began coverage on Netskope in a research report on Monday, October 13th. They set a "market outperform" rating and a $27.00 target price for the company. Finally, Morgan Stanley initiated coverage on Netskope in a report on Monday, October 13th. They issued an "overweight" rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Netskope presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.71.

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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