Netskope Inc. (NASDAQ:NTSK – Get Free Report) major shareholder Iconiq Strategic Partners Viii purchased 64,771 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was purchased at an average cost of $12.42 per share, for a total transaction of $804,455.82. Following the acquisition, the insider owned 916,690 shares of the company’s stock, valued at approximately $11,385,289.80. This trade represents a 7.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 stock was acquired at an average price of $12.26 per share, for a total transaction of $2,962,359.28.
- On Wednesday, July 8th, Iconiq Strategic Partners Viii acquired 610,291 shares of Netskope stock. The shares were acquired at an average cost of $11.82 per share, with a total value of $7,213,639.62.
Netskope Price Performance
Netskope stock traded up $1.47 during midday trading on Tuesday, hitting $14.27. 10,148,206 shares of the company’s stock were exchanged, compared to its average volume of 4,680,417. Netskope Inc. has a 52-week low of $7.66 and a 52-week high of $27.99. The stock has a 50-day moving average price of $10.81 and a two-hundred day moving average price of $11.69. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.16 and a current ratio of 2.17. The company has a market cap of $5.76 billion and a P/E ratio of -71.35.
Wall Street Analyst Weigh In
NTSK has been the topic of a number of recent analyst reports. KeyCorp lowered their target price on shares of Netskope from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, June 25th. BMO Capital Markets cut their price target on shares of Netskope from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Morgan Stanley lowered their price objective on shares of Netskope from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada set a $18.00 price objective on shares of Netskope in a report on Thursday, June 4th. Finally, Robert W. Baird cut their target price on shares of Netskope from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.11.
Get Our Latest Analysis on NTSK
Institutional Investors Weigh In On Netskope
Institutional investors have recently made changes to their positions in the business. Insight Holdings Group LLC bought a new position in shares of Netskope during the 3rd quarter valued at $3,978,000. Tudor Investment Corp ET AL bought a new stake in Netskope in the third quarter worth $3,928,000. Swedbank AB purchased a new stake in Netskope during the fourth quarter valued at about $1,801,000. OFI Invest Asset Management purchased a new stake in Netskope during the fourth quarter valued at about $15,889,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Netskope during the third quarter valued at about $5,891,000.
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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