Netskope Inc. (NASDAQ:NTSK) Sees Large Decline in Short Interest

Netskope Inc. (NASDAQ:NTSK) saw a significant decrease in short interest in July. As of July 15th, there was short interest totaling 15,936,658 shares, a decrease of 40.7% from the June 30th total of 26,867,322 shares. Approximately 5.3% of the shares of the stock are short sold. Based on an average daily volume of 5,119,563 shares, the days-to-cover ratio is currently 3.1 days.

Insiders Place Their Bets

In other Netskope news, major shareholder Iconiq Strategic Partners Viii acquired 64,771 shares of the company’s stock in a transaction on Monday, July 13th. The shares were bought at an average cost of $12.42 per share, with a total value of $804,455.82. Following the completion of the acquisition, the insider owned 916,690 shares in the company, valued at approximately $11,385,289.80. This trade represents a 7.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William J.G. Griffith acquired 64,771 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was acquired at an average price of $12.42 per share, with a total value of $804,455.82. Following the completion of the transaction, the director directly owned 916,690 shares of the company’s stock, valued at approximately $11,385,289.80. This represents a 7.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 1,833,380 shares of company stock valued at $21,960,909 and sold 3,529,696 shares valued at $33,002,807. Company insiders own 25.52% of the company’s stock.

Institutional Trading of Netskope

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB purchased a new stake in shares of Netskope in the fourth quarter valued at about $1,801,000. OFI Invest Asset Management purchased a new position in Netskope during the fourth quarter worth about $15,889,000. Principal Financial Group Inc. boosted its holdings in Netskope by 31.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock valued at $21,628,000 after purchasing an additional 608,355 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Netskope in the 3rd quarter valued at approximately $3,928,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Netskope by 11.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,561,508 shares of the company’s stock worth $62,469,000 after buying an additional 373,529 shares during the last quarter.

Netskope Price Performance

NTSK stock traded up $0.40 during mid-day trading on Friday, reaching $12.50. The company’s stock had a trading volume of 1,294,562 shares, compared to its average volume of 4,643,129. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 4.06. The company’s 50 day moving average is $11.18 and its two-hundred day moving average is $11.23. Netskope has a fifty-two week low of $7.66 and a fifty-two week high of $27.99. The stock has a market cap of $5.05 billion and a PE ratio of -62.48.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $201.59 million during the quarter. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. Equities research analysts expect that Netskope will post -0.88 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on NTSK. Morgan Stanley decreased their price objective on shares of Netskope from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Piper Sandler cut their target price on shares of Netskope from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Wells Fargo & Company decreased their price target on shares of Netskope from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Robert W. Baird lowered their price objective on Netskope from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Netskope in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

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.