Netskope Sees Unusually Large Options Volume (NASDAQ:NTSK)

Netskope Inc. (NASDAQ:NTSK) was the target of some unusual options trading on Friday. Stock investors purchased 3,716 call options on the stock. This represents an increase of 144% compared to the typical volume of 1,523 call options.

Insider Transactions at Netskope

In related news, Director William J.G. Griffith acquired 2,000,000 shares of the stock in a transaction on Friday, September 19th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $38,000,000.00. Following the purchase, the director directly owned 11,238,175 shares in the company, valued at approximately $213,525,325. The trade was a 21.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. ICONIQ Capital LLC bought a new stake in shares of Netskope in the 3rd quarter worth approximately $1,506,261,000. Scge Management L.P. purchased a new stake in Netskope in the third quarter worth about $312,104,000. Vanguard Group Inc. purchased a new position in shares of Netskope during the third quarter valued at approximately $80,006,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Netskope in the 3rd quarter worth approximately $72,463,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Netskope during the 3rd quarter valued at about $61,833,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NTSK. Weiss Ratings initiated coverage on Netskope in a report on Thursday. They issued a “sell (d)” rating for the company. JMP Securities initiated coverage on Netskope in a research report on Monday, October 13th. They set a “market outperform” rating and a $27.00 target price for the company. Oppenheimer set a $28.00 price target on Netskope and gave the company an “outperform” rating in a research report on Monday, October 13th. BTIG Research started coverage on Netskope in a research report on Monday, October 13th. They set a “buy” rating and a $27.00 price objective for the company. Finally, UBS Group set a $27.00 target price on Netskope in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.18.

Netskope Price Performance

NASDAQ NTSK opened at $20.72 on Friday. Netskope has a 52-week low of $17.32 and a 52-week high of $27.99. The stock’s 50-day moving average is $21.23.

Netskope (NASDAQ:NTSK) last issued its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The firm had revenue of $184.17 million for the quarter, compared to analysts’ expectations of $175.81 million. The firm’s revenue was up 33.0% on a year-over-year basis.

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.