Netskope (NASDAQ:NTSK) Trading 6.8% Higher – Should You Buy?

Netskope Inc. (NASDAQ:NTSK) shares traded up 6.8% during trading on Friday . The company traded as high as $21.48 and last traded at $21.02. 770,009 shares traded hands during trading, a decline of 66% from the average session volume of 2,277,210 shares. The stock had previously closed at $19.68.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NTSK shares. Oppenheimer set a $28.00 price objective on Netskope and gave the stock an “outperform” rating in a research report on Monday, October 13th. William Blair began coverage on shares of Netskope in a report on Monday, October 13th. They set an “outperform” rating for the company. Citigroup initiated coverage on shares of Netskope in a research report on Monday, October 13th. They issued an “outperform” rating on the stock. Piper Sandler began coverage on shares of Netskope in a research report on Monday, October 13th. They set an “overweight” rating and a $28.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Netskope in a report on Monday, October 13th. They issued an “overweight” rating and a $27.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $26.94.

Netskope Price Performance

The firm’s 50-day moving average price is $21.27.

Insider Buying and Selling

In other Netskope news, Director William J.G. Griffith bought 2,000,000 shares of the firm’s stock in a transaction on Friday, September 19th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $38,000,000.00. Following the purchase, the director directly owned 11,238,175 shares of the company’s stock, valued at $213,525,325. The trade was a 21.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Netskope

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. purchased a new position in Netskope in the third quarter worth $8,810,000. Alliancebernstein L.P. purchased a new position in shares of Netskope in the third quarter worth about $19,776,000. Brevan Howard Capital Management LP purchased a new position in shares of Netskope in the third quarter worth about $881,000. Holocene Advisors LP bought a new stake in shares of Netskope in the 3rd quarter valued at about $15,241,000. Finally, Jain Global LLC purchased a new stake in Netskope during the 3rd quarter valued at about $3,410,000.

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.