Netskope (NASDAQ:NTSK) Major Shareholder Iconiq Strategic Partners Viii Acquires 241,628 Shares

Key Points

• Iconiq Strategic Partners Viii, a major Netskope shareholder, bought 241,628 shares on July 10 at $12.26 each, increasing its stake by 39.59% to 851,919 shares. The firm also made additional purchases on July 8 and July 13.
• Netskope shares rose 11.5% to $14.27 amid heavier-than-normal trading volume. The stock remains well below its 1-year high of $27.99, and the company carries a market value of $5.76 billion.
• The company recently reported better-than-expected quarterly results, with EPS of -$0.06 versus estimates of -$0.07 and revenue up 27.8% year over year to $201.59 million. Analysts currently have a consensus rating of Moderate Buy with a price target of $17.11.

Netskope Inc. (NASDAQ:NTSK - Get Free Report) major shareholder Iconiq Strategic Partners Viii purchased 241,628 shares of the company's stock in a transaction on Friday, July 10th. The stock was acquired at an average cost of $12.26 per share, for a total transaction of $2,962,359.28. Following the completion of the purchase, the insider owned 851,919 shares of the company's stock, valued at approximately $10,444,526.94. This trade represents a 39.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large 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 Monday, July 13th, Iconiq Strategic Partners Viii acquired 64,771 shares of Netskope stock. The shares were bought at an average cost of $12.42 per share, with a total value of $804,455.82.
• On Wednesday, July 8th, Iconiq Strategic Partners Viii acquired 610,291 shares of Netskope stock. The stock was bought at an average price of $11.82 per share, with a total value of $7,213,639.62.

Netskope Stock Up 11.5%

Shares of Netskope stock traded up $1.47 during trading on Tuesday, reaching $14.27. 10,148,206 shares of the company traded hands, compared to its average volume of 4,680,417. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.17 and a quick ratio of 2.16. Netskope Inc. has a 1-year low of $7.66 and a 1-year high of $27.99. The company has a 50 day moving average price of $10.81 and a 200-day moving average price of $11.69. The firm has a market capitalization of $5.76 billion and a PE ratio of -71.35.

Netskope (NASDAQ:NTSK - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $201.59 million during the quarter. The firm's revenue 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, equities research analysts expect that Netskope Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. ICONIQ Capital LLC purchased a new position in shares of Netskope during the third quarter valued at approximately $1,506,261,000. Scge Management L.P. purchased a new stake in Netskope in the 3rd quarter valued at $312,104,000. Vanguard Group Inc. raised its position in Netskope by 51.5% in the 4th quarter. Vanguard Group Inc. now owns 5,332,708 shares of the company's stock valued at $93,536,000 after buying an additional 1,812,857 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Netskope by 11.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,561,508 shares of the company's stock valued at $62,469,000 after acquiring an additional 373,529 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Netskope by 14.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,556,583 shares of the company's stock worth $62,383,000 after acquiring an additional 456,321 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler reduced their target price on Netskope from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, June 4th. Rosenblatt Securities initiated coverage on Netskope in a research note on Tuesday, April 14th. They issued a "buy" rating and a $15.00 price objective for the company. Royal Bank Of Canada set a $18.00 target price on Netskope in a report on Thursday, June 4th. KeyCorp lowered their price objective on shares of Netskope from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Thursday, June 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Netskope from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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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