Netskope (NASDAQ:NTSK) Sets New 52-Week Low – Should You Sell?

Netskope Inc. (NASDAQ:NTSK)’s share price reached a new 52-week low on Thursday . The stock traded as low as $20.67 and last traded at $20.86, with a volume of 1568385 shares traded. The stock had previously closed at $21.91.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group set a $27.00 price target on shares of Netskope in a research report on Monday, October 13th. Citizens Jmp assumed coverage on Netskope in a research report on Monday, October 13th. They issued a “mkt outperform” rating and a $27.00 target price for the company. Citigroup began coverage on Netskope in a research report on Monday, October 13th. They set an “outperform” rating on the stock. KeyCorp began coverage on shares of Netskope in a report on Monday, October 13th. They set an “overweight” rating and a $27.00 price target on the stock. Finally, Mizuho assumed coverage on Netskope in a report on Monday, October 13th. They issued an “outperform” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $26.94.

Netskope Price Performance

Insider Activity

In related news, Director William J.G. Griffith acquired 2,000,000 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was acquired at an average price of $19.00 per share, with a total value of $38,000,000.00. Following the completion of the transaction, the director owned 11,238,175 shares of the company’s stock, valued at approximately $213,525,325. This represents a 21.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Netskope

Several large investors have recently added to or reduced their stakes in NTSK. Vanguard Group Inc. acquired a new stake in shares of Netskope during the 3rd quarter worth approximately $80,006,000. Massachusetts Financial Services Co. MA bought a new stake in Netskope in the 3rd quarter valued at $72,463,000. TimesSquare Capital Management LLC acquired a new position in shares of Netskope in the 3rd quarter valued at $61,833,000. Capital Research Global Investors bought a new position in shares of Netskope during the 3rd quarter worth about $47,733,000. Finally, Capital International Investors acquired a new stake in shares of Netskope during the 3rd quarter valued at about $47,733,000.

About Netskope

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.