Netskope (NASDAQ:NTSK) Hits New 12-Month Low – Should You Sell?

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

Wall Street Analyst Weigh In

Several research firms have commented on NTSK. KeyCorp assumed coverage on shares of Netskope in a report on Monday, October 13th. They issued an “overweight” rating and a $27.00 price target on the stock. Royal Bank Of Canada started coverage on shares of Netskope in a research report on Monday, October 13th. They set an “outperform” rating and a $26.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Netskope in a research note on Monday, October 13th. They set a “buy” rating and a $25.00 target price on the stock. Mizuho started coverage on Netskope in a report on Monday, October 13th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, BTIG Research assumed coverage on shares of Netskope in a report on Monday, October 13th. They set a “buy” rating and a $27.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Netskope has a consensus rating of “Buy” and an average price target of $26.94.

Netskope Stock Performance

Insider Buying and Selling

In related news, Director William J.G. Griffith purchased 2,000,000 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was bought at an average cost of $19.00 per share, with a total value of $38,000,000.00. Following the completion of the acquisition, the director directly owned 11,238,175 shares in the company, valued at $213,525,325. The trade was a 21.65% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Netskope

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in Netskope during the third quarter valued at about $80,006,000. Massachusetts Financial Services Co. MA acquired a new stake in Netskope during the 3rd quarter valued at approximately $72,463,000. TimesSquare Capital Management LLC bought a new position in Netskope during the 3rd quarter valued at $61,833,000. New York Life Insurance Co. acquired a new position in Netskope in the third quarter worth about $31,236,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Netskope in the 3rd quarter valued at approximately $27,239,000.

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.