Netskope (NASDAQ:NTSK) Shares Down 4.8% - Time to Sell?

Key Points

• Netskope's shares fell by 4.8% to close at $22.31, with a significant decline in trading volume, down 81% from the average daily volume.
• Wall Street analysts remain optimistic, with a consensus rating of "Buy" and target prices ranging from $25.00 to $28.00 from several research firms.
• Director William J.G. Griffith made a major insider purchase of 2 million shares at $19.00 each, elevating his stake in the company significantly.

Netskope Inc. (NASDAQ:NTSK - Get Free Report) shares were down 4.8% during trading on Tuesday . The stock traded as low as $22.07 and last traded at $22.31. Approximately 700,087 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 3,707,536 shares. The stock had previously closed at $23.44.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NTSK shares. Oppenheimer set a $28.00 price target on Netskope and gave the stock an "outperform" rating in a research report on Monday. Citizens Jmp assumed coverage on Netskope in a research report on Monday. They set a "mkt outperform" rating and a $27.00 target price for the company. BMO Capital Markets assumed coverage on Netskope in a research report on Monday. They set an "outperform" rating and a $26.00 target price for the company. Mizuho assumed coverage on Netskope in a research report on Monday. They set an "outperform" rating and a $25.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Netskope in a research report on Monday. They set a "buy" rating and a $25.00 target price for the company. Sixteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Netskope presently has a consensus rating of "Buy" and a consensus target price of $26.94.

Netskope Trading Down 3.2%

Insider Buying and Selling

In other Netskope news, Director William J.G. Griffith acquired 2,000,000 shares of Netskope stock in a transaction that occurred on Friday, September 19th. The stock was bought at an average price of $19.00 per share, with a total value of $38,000,000.00. Following the completion of the purchase, the director directly owned 11,238,175 shares of the company's stock, valued at approximately $213,525,325. This represents a 21.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.

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