Netskope (NASDAQ:NTSK) Shares Down 9.9% – Here’s Why

Netskope Inc. (NASDAQ:NTSK)’s share price traded down 9.9% on Friday . The stock traded as low as $10.45 and last traded at $10.50. 2,232,731 shares traded hands during trading, a decline of 13% from the average session volume of 2,556,987 shares. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NTSK. Robert W. Baird started coverage on Netskope in a research note on Monday, October 27th. They set an “outperform” rating and a $27.00 price objective on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a research note on Wednesday, February 11th. Mizuho lowered their price target on shares of Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. KeyCorp reduced their price objective on shares of Netskope from $24.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.88.

Netskope Trading Down 9.7%

The company has a market capitalization of $4.14 billion and a P/E ratio of -105.30. The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32. The firm’s 50 day moving average price is $15.50.

Netskope (NASDAQ:NTSK) last released its earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.15. The company had revenue of $184.17 million during the quarter, compared to analyst estimates of $175.81 million. Netskope’s revenue was up 33.0% compared to the same quarter last year.

Insider Activity

In other Netskope news, CFO Matto Andrew H. Del sold 49,875 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $17.16, for a total transaction of $855,855.00. Following the completion of the sale, the chief financial officer owned 41,493 shares of the company’s stock, valued at approximately $712,019.88. The trade was a 54.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Raphael Bousquet sold 3,823 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $16.66, for a total value of $63,691.18. The disclosure for this sale is available in the SEC filing. Insiders sold 1,049,721 shares of company stock valued at $18,020,279 in the last ninety days.

Institutional Trading of Netskope

A number of institutional investors have recently modified their holdings of NTSK. T. Rowe Price Investment Management Inc. raised its holdings in Netskope by 14.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,556,583 shares of the company’s stock valued at $62,383,000 after buying an additional 456,321 shares during the period. XTX Topco Ltd increased its position in shares of Netskope by 11.3% in the fourth quarter. XTX Topco Ltd now owns 28,956 shares of the company’s stock worth $508,000 after acquiring an additional 2,950 shares in the last quarter. Bamco Inc. NY increased its position in shares of Netskope by 28.1% in the fourth quarter. Bamco Inc. NY now owns 2,981,743 shares of the company’s stock worth $52,300,000 after acquiring an additional 654,964 shares in the last quarter. Freestone Grove Partners LP raised its stake in shares of Netskope by 25.1% in the 4th quarter. Freestone Grove Partners LP now owns 250,147 shares of the company’s stock valued at $4,388,000 after acquiring an additional 50,147 shares during the period. Finally, Sandia Investment Management LP lifted its holdings in shares of Netskope by 300.0% during the 4th quarter. Sandia Investment Management LP now owns 40,000 shares of the company’s stock valued at $702,000 after acquiring an additional 30,000 shares in the last quarter.

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.