Sanjay Beri Sells 108,553 Shares of Netskope (NASDAQ:NTSK) Stock

Key Points

• CEO Sanjay Beri sold a total of 630,321 Netskope shares across transactions from Dec. 31 to Jan. 5, generating about $10.8 million in proceeds.
• Netskope shares trade near $17.15 while the company recently beat EPS estimates (‑$0.10 vs. ‑$0.25) with revenue up 33% YoY; analysts carry a consensus target of $26.94 and an average rating of "Moderate Buy."

Netskope Inc. (NASDAQ:NTSK - Get Free Report) CEO Sanjay Beri sold 108,553 shares of the company's stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $17.67, for a total value of $1,918,131.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Sanjay Beri also recently made the following trade(s):

• On Monday, January 5th, Sanjay Beri sold 175,707 shares of Netskope stock. The stock was sold at an average price of $17.33, for a total transaction of $3,045,002.31.
• On Friday, January 2nd, Sanjay Beri sold 346,061 shares of Netskope stock. The shares were sold at an average price of $16.91, for a total transaction of $5,851,891.51.

Netskope Stock Performance

Shares of NASDAQ NTSK traded up $0.25 during mid-day trading on Monday, reaching $17.15. The company had a trading volume of 2,713,980 shares, compared to its average volume of 3,980,611. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. Netskope Inc. has a twelve month low of $16.57 and a twelve month high of $27.99. The stock has a 50 day simple moving average of $19.91. The firm has a market capitalization of $6.74 billion and a PE ratio of -171.50.

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

Analysts Set New Price Targets

NTSK has been the topic of several analyst reports. William Blair initiated coverage on shares of Netskope in a research report on Monday, October 13th. They set an "outperform" rating on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Netskope in a research note on Monday, December 29th. BMO Capital Markets began coverage on Netskope in a report on Monday, October 13th. They issued an "outperform" rating and a $26.00 target price for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Netskope in a research report on Monday. Finally, UBS Group set a $27.00 price objective on shares of Netskope in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.94.

Institutional Investors Weigh In On Netskope

Several hedge funds have recently modified their holdings of NTSK. ICONIQ Capital LLC bought a new position in Netskope during the third quarter worth $1,506,261,000. Scge Management L.P. bought a new position in Netskope in the third quarter worth $312,104,000. Vanguard Group Inc. acquired a new stake in shares of Netskope during the 3rd quarter valued at about $80,006,000. Massachusetts Financial Services Co. MA bought a new stake in Netskope in the third quarter valued at about $72,463,000. Finally, TimesSquare Capital Management LLC acquired a new position in Netskope in the third quarter worth about $61,833,000.

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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