Insider Selling: Netskope (NASDAQ:NTSK) CEO Sells $3,045,002.31 in Stock

Netskope Inc. (NASDAQ:NTSK) CEO Sanjay Beri sold 175,707 shares of Netskope stock in a transaction on Monday, January 5th. The stock was sold at an average price of $17.33, for a total transaction of $3,045,002.31. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Sanjay Beri also recently made the following trade(s):

• On Friday, January 2nd, Sanjay Beri sold 346,061 shares of Netskope stock. The shares were sold at an average price of $16.91, for a total value of $5,851,891.51.
• On Wednesday, December 31st, Sanjay Beri sold 108,553 shares of Netskope stock. The stock was sold at an average price of $17.67, for a total value of $1,918,131.51.

Netskope Price Performance

NTSK traded up $0.25 on Monday, reaching $17.15. 2,713,980 shares of the stock were exchanged, compared to its average volume of 3,980,611. The firm’s 50-day moving average is $19.91. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. The stock has a market capitalization of $6.74 billion and a price-to-earnings ratio of -171.50. Netskope Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $27.99.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data 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 firm had revenue of $184.17 million during the quarter, compared to analysts’ expectations of $175.81 million. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Institutional Investors Weigh In On Netskope

A number of institutional investors have recently modified their holdings of the business. Chicago Capital LLC purchased a new stake in Netskope during the 3rd quarter valued at about $2,056,000. Massachusetts Financial Services Co. MA purchased a new position in Netskope in the 3rd quarter worth approximately $72,463,000. Federated Hermes Inc. acquired a new position in shares of Netskope during the 3rd quarter worth approximately $18,184,000. New York State Common Retirement Fund purchased a new stake in shares of Netskope in the third quarter valued at approximately $943,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Netskope in the third quarter valued at approximately $27,239,000.

Analyst Upgrades and Downgrades

NTSK has been the subject of a number of research reports. Robert W. Baird initiated coverage on shares of Netskope in a research report on Monday, October 27th. They set an “outperform” rating and a $27.00 target price for the company. BTIG Research began coverage on Netskope in a report on Monday, October 13th. They issued a “buy” rating and a $27.00 price objective for the company. TD Cowen started coverage on Netskope in a research note on Monday, October 13th. They issued a “buy” rating and a $30.00 target price on the stock. Oppenheimer set a $28.00 price target on Netskope and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Wall Street Zen upgraded Netskope to a “hold” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Netskope currently has a consensus rating of “Moderate Buy” and an average price target of $26.94.

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. 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.