New York State Common Retirement Fund Purchases New Shares in Netskope Inc. $NTSK

New York State Common Retirement Fund acquired a new position in Netskope Inc. (NASDAQ:NTSK) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 41,499 shares of the company’s stock, valued at approximately $943,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTSK. Chicago Capital LLC purchased a new stake in shares of Netskope during the third quarter worth about $2,056,000. Federated Hermes Inc. purchased a new stake in Netskope during the 3rd quarter worth approximately $18,184,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Netskope in the 3rd quarter valued at approximately $72,463,000.

Netskope Stock Performance

Netskope stock opened at $12.22 on Wednesday. Netskope Inc. has a 1 year low of $11.36 and a 1 year high of $27.99. The business has a 50-day simple moving average of $17.07. 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 company has a market cap of $4.81 billion and a P/E ratio of -122.20.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data 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 business had revenue of $184.17 million for the quarter, compared to the consensus estimate of $175.81 million. The firm’s revenue was up 33.0% on a year-over-year basis.

Insider Transactions at Netskope

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

Analyst Upgrades and Downgrades

NTSK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $26.00 price target on shares of Netskope in a research report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Robert W. Baird initiated coverage on shares of Netskope in a research report on Monday, October 27th. They issued an “outperform” rating and a $27.00 target price for the company. Zacks Research raised shares of Netskope to a “hold” rating in a research report on Monday, October 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Netskope in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Netskope presently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

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.