Short Interest in Netskope Inc. (NASDAQ:NTSK) Grows By 76.4%

Netskope Inc. (NASDAQ:NTSK) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 26,867,322 shares, a growth of 76.4% from the June 15th total of 15,229,356 shares. Approximately 8.9% of the company’s shares are sold short. Based on an average daily volume of 8,738,665 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

NTSK has been the topic of several analyst reports. Mizuho reduced their target price on Netskope from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. BTIG Research lowered their price target on shares of Netskope from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 4th. BMO Capital Markets dropped their price target on shares of Netskope from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada set a $18.00 price objective on shares of Netskope in a research note on Thursday, June 4th. Finally, Rosenblatt Securities initiated coverage on shares of Netskope in a research report on Tuesday, April 14th. They set a “buy” rating and a $15.00 price objective for the company. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.21.

Insider Buying and Selling

In other Netskope news, major shareholder Lightspeed Venture Partners Se sold 1,313,827 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $9.19, for a total value of $12,074,070.13. Following the sale, the insider owned 336,173 shares in the company, valued at approximately $3,089,429.87. The trade was a 79.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arif Janmohamed sold 1,313,827 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $9.19, for a total value of $12,074,070.13. Following the completion of the sale, the director directly owned 336,173 shares of the company’s stock, valued at approximately $3,089,429.87. The trade was a 79.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders acquired 1,833,380 shares of company stock valued at $21,960,909 and sold 3,529,696 shares valued at $33,002,807. Insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NTSK. Abound Wealth Management acquired a new stake in Netskope in the second quarter worth $496,000. Wasatch Advisors LP bought a new position in shares of Netskope during the 2nd quarter worth about $25,107,000. Camelot Technology Advisors Inc. bought a new position in shares of Netskope during the 2nd quarter worth about $193,000. FNY Investment Advisers LLC grew its stake in shares of Netskope by 88.9% in the 2nd quarter. FNY Investment Advisers LLC now owns 8,500 shares of the company’s stock valued at $92,000 after buying an additional 4,000 shares during the period. Finally, Bangor Savings Bank bought a new stake in Netskope in the 2nd quarter valued at about $104,000.

Netskope Trading Up 0.7%

NASDAQ NTSK opened at $13.59 on Friday. The stock has a market capitalization of $5.49 billion and a P/E ratio of -67.95. The business has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $11.60. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.17 and a quick ratio of 2.16. Netskope has a one year low of $7.66 and a one year high of $27.99.

Netskope (NASDAQ:NTSK) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $201.59 million during the quarter. The company’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. Research analysts expect that Netskope will post -0.88 earnings per share for the current year.

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.