Netskope (NASDAQ:NTSK) Trading 6.8% Higher – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK) was up 6.8% during trading on Friday . The stock traded as high as $21.48 and last traded at $21.02. Approximately 770,009 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 2,277,210 shares. The stock had previously closed at $19.68.

Analysts Set New Price Targets

A number of research firms recently commented on NTSK. Robert W. Baird started coverage on shares of Netskope in a report on Monday, October 27th. They set an “outperform” rating and a $27.00 price target for the company. BMO Capital Markets assumed coverage on shares of Netskope in a research note on Monday, October 13th. They set an “outperform” rating and a $26.00 price objective for the company. Cowen began coverage on Netskope in a research note on Monday, October 13th. They issued a “buy” rating on the stock. William Blair assumed coverage on Netskope in a research report on Monday, October 13th. They set an “outperform” rating for the company. Finally, Oppenheimer set a $28.00 price objective on Netskope and gave the stock an “outperform” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $26.94.

Netskope Stock Performance

The stock has a 50 day moving average price of $21.27.

Insider Activity at Netskope

In other news, Director William J.G. Griffith bought 2,000,000 shares of the stock in a transaction dated Friday, September 19th. The stock was bought 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 $213,525,325. This trade represents a 21.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Netskope

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Netskope in the 3rd quarter worth about $41,000. Assetmark Inc. bought a new stake in Netskope during the third quarter worth about $83,000. RiverPark Advisors LLC purchased a new stake in Netskope in the third quarter worth about $87,000. SBI Securities Co. Ltd. bought a new position in shares of Netskope during the third quarter valued at approximately $89,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Netskope during the third quarter valued at approximately $127,000.

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.