Netskope Inc.’s Quiet Period To End Tomorrow (NASDAQ:NTSK)

Netskope’s (NASDAQ:NTSK) quiet period will end on Tuesday, October 28th. Netskope had issued 47,800,000 shares in its initial public offering on September 18th. The total size of the offering was $908,200,000 based on an initial share price of $19.00. During Netskope’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NTSK shares. UBS Group set a $27.00 price objective on shares of Netskope in a report on Monday, October 13th. BMO Capital Markets initiated coverage on shares of Netskope in a research note on Monday, October 13th. They issued an “outperform” rating and a $26.00 price target for the company. Wall Street Zen raised shares of Netskope to a “hold” rating in a research note on Monday, September 29th. Zacks Research raised shares of Netskope to a “hold” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada initiated coverage on shares of Netskope in a research note on Monday, October 13th. They issued an “outperform” rating and a $26.00 price target for the company. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.94.

Netskope Price Performance

NTSK stock opened at $22.47 on Monday. Netskope has a 12-month low of $21.00 and a 12-month high of $27.99.

Insiders Place Their Bets

In other Netskope news, Director William J.G. Griffith acquired 2,000,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were acquired at an average price of $19.00 per share, for a total transaction of $38,000,000.00. Following the completion of the acquisition, the director owned 11,238,175 shares in the company, valued at $213,525,325. This trade represents a 21.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Netskope

A hedge fund recently bought a new stake in Netskope stock. Chicago Capital LLC purchased a new stake in shares of Netskope Inc. (NASDAQ:NTSK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 90,462 shares of the company’s stock, valued at approximately $2,056,000.

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.