Massachusetts Financial Services Co. MA Makes New Investment in Netskope Inc. $NTSK

Massachusetts Financial Services Co. MA acquired a new position in Netskope Inc. (NASDAQ:NTSK) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,187,979 shares of the company’s stock, valued at approximately $72,463,000. Massachusetts Financial Services Co. MA owned 0.83% of Netskope at the end of the most recent reporting period.

Separately, Chicago Capital LLC purchased a new position in Netskope in the third quarter valued at approximately $2,056,000.

Insider Activity

In related news, CEO Sanjay Beri sold 31,594 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $17.58, for a total value of $555,422.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matto Andrew H. Del sold 49,875 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total value of $855,855.00. Following the sale, the chief financial officer owned 41,493 shares of the company’s stock, valued at approximately $712,019.88. This trade represents a 54.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,049,721 shares of company stock worth $18,020,279 over the last ninety days.

Netskope Trading Up 1.6%

NASDAQ NTSK opened at $14.99 on Wednesday. The firm has a market capitalization of $5.89 billion and a PE ratio of -149.90. The stock’s fifty day moving average price is $18.43. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17. Netskope Inc. has a 52 week low of $14.23 and a 52 week high of $27.99.

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

Analysts Set New Price Targets

Several research firms have issued reports on NTSK. Baird R W upgraded shares of Netskope to a “strong-buy” rating in a research note on Monday, October 27th. Mizuho raised their target price on shares of Netskope from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Independent Research set a $27.00 price target on shares of Netskope in a research report on Monday, October 13th. JMP Securities began coverage on Netskope in a report on Monday, October 13th. They issued a “market outperform” rating and a $27.00 price target for the company. Finally, William Blair initiated coverage on Netskope in a research note on Monday, October 13th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued 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, Netskope presently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

Netskope 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.