800,000 Shares in Netskope Inc. $NTSK Acquired by Federated Hermes Inc.

Federated Hermes Inc. purchased a new position in Netskope Inc. (NASDAQ:NTSK) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 800,000 shares of the company’s stock, valued at approximately $18,184,000.

Separately, Massachusetts Financial Services Co. MA purchased a new position in shares of Netskope in the third quarter worth $72,463,000.

Insider Transactions at Netskope

In related news, CFO Matto Andrew H. Del sold 49,875 shares of Netskope stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total transaction of $855,855.00. Following the completion of the transaction, the chief financial officer directly owned 41,493 shares of the company’s stock, valued at approximately $712,019.88. The trade was a 54.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Beri sold 31,594 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total transaction of $555,422.52. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,049,721 shares of company stock worth $18,020,279.

Netskope Price Performance

NASDAQ:NTSK opened at $14.85 on Friday. The company has a market cap of $5.84 billion and a price-to-earnings ratio of -148.50. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. The company has a 50 day moving average of $17.83. Netskope Inc. has a 1 year low of $14.23 and a 1 year 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 the consensus estimate of ($0.25) by $0.15. The company had revenue of $184.17 million for the quarter, compared to analysts’ expectations of $175.81 million. The business’s revenue was up 33.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

NTSK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $26.00 price target on shares of Netskope in a report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. Independent Research set a $27.00 price target on Netskope in a research note on Monday, October 13th. William Blair assumed coverage on Netskope in a research note on Monday, October 13th. They issued an “outperform” rating on the stock. Finally, KeyCorp lowered their target price on Netskope from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.