Netskope CFO Andrew Del Matto Sells 49,875 Shares for $855,800
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
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Source: Fool
- Ownership Change: On January 6, Netskope CFO Andrew Del Matto executed a direct open-market sale of 49,875 shares for a total of $855,800, reflecting a structurally driven transaction due to the conversion of derivative securities, reducing his direct holdings to 41,493 shares while still indicating confidence in the company's future.
- Financial Context: The average sale price was $17.16 per share, while the post-transaction value of his direct holdings at market close was $719,500, suggesting that despite stock price fluctuations, Del Matto maintains significant equity exposure.
- Company Performance: Netskope's most recent quarter saw a 33% year-over-year revenue increase to $184.2 million, with annual recurring revenue climbing 34% to $754 million, demonstrating strong growth momentum in the cloud security market that should attract long-term investor interest.
- Cash Flow Position: At quarter-end, Netskope had approximately $1.2 billion in cash and marketable securities, providing ample financial flexibility to support future growth, and despite a 13% decline in stock price since its IPO, the fundamentals remain robust.
Analyst Views on NTSK
Wall Street analysts forecast NTSK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NTSK is 26.93 USD with a low forecast of 25.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
15 Buy
0 Hold
0 Sell
Strong Buy
Current: 16.400
Low
25.00
Averages
26.93
High
30.00
Current: 16.400
Low
25.00
Averages
26.93
High
30.00
About NTSK
Netskope, Inc. is a cybersecurity company that provides security, networking, and analytics solutions to organizations ranging from macro to mid-sized companies. The Company delivers its offerings through a software-as-a-service business model, selling subscriptions that provide customers with access to its platform along with related support services. Its Netskope One platform is a comprehensive solution that integrates security, networking, and analytics products into a single, unified platform. Its products include Security Products, Network Products, and Analytics Products. Security products include Cloud Inline Security, Cloud Access Security Broker, Threat Protection, Next-Gen Secure Web Gateway, Private Access, Enterprise Browser, and others. Networking products include Firewall-as-a-Service, Software-Defined Wide Area Network, Cloud Packet Stream, and others. Analytics products include Advanced Analytics, User and Entity Behavior Analytics, and Digital Experience Management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
