Netskope Inc.’s Lock-Up Period Set To Expire on March 17th (NASDAQ:NTSK)

Netskope’s (NASDAQ:NTSK) lock-up period will expire on Tuesday, March 17th. 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. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Several brokerages have recently commented on NTSK. TD Cowen decreased their target price on Netskope from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. BTIG Research reduced their price objective on Netskope from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Wells Fargo & Company initiated coverage on shares of Netskope in a report on Tuesday, March 3rd. They issued an “overweight” rating and a $13.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Finally, Piper Sandler restated an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Netskope has an average rating of “Moderate Buy” and a consensus target price of $23.47.

Netskope Price Performance

NASDAQ:NTSK opened at $12.29 on Tuesday. The firm has a market cap of $4.83 billion and a price-to-earnings ratio of -122.90. The firm’s 50 day moving average is $13.73. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. Netskope has a 12-month low of $9.13 and a 12-month high of $27.99.

Netskope (NASDAQ:NTSK) last posted its earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The company had revenue of $184.17 million during the quarter, compared to the consensus estimate of $175.81 million. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Insider Buying and Selling at Netskope

In other news, CRO Raphael Bousquet sold 3,823 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $16.66, for a total transaction of $63,691.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Matto Andrew H. Del sold 77,207 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.92, for a total value of $1,306,342.44. Following the completion of the transaction, the chief financial officer directly owned 41,493 shares of the company’s stock, valued at $702,061.56. This trade represents a 65.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,049,721 shares of company stock valued at $18,020,279 in the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NTSK. Farther Finance Advisors LLC acquired a new stake in Netskope in the fourth quarter worth about $25,000. Quarry LP bought a new stake in shares of Netskope during the 3rd quarter worth about $41,000. Triumph Capital Management raised its position in shares of Netskope by 380.0% during the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after buying an additional 1,900 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Netskope by 261.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after acquiring an additional 2,617 shares during the period. Finally, Assetmark Inc. acquired a new position in shares of Netskope during the third quarter valued at approximately $83,000.

Netskope Company Profile

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.