Divesh Makan, a managing member of ICONIQ Parent GP VIII, along with affiliated entities ICONIQ Strategic Partners VIII Holdings, L.P., ICONIQ Strategic Partners VIII GP, L.P., and ICONIQ Strategic Partners VIII TT GP, LLC, collectively reported the acquisition of Netskope Inc (NASDAQ:NTSK) Class A Common Stock totaling approximately $7,216,048. The purchases occurred on July 8, 2026, with prices ranging from $11.665 to $11.824 per share.
The filings indicate two direct acquisitions of Class A Common Stock by Divesh Makan. One transaction involved 200 shares at a price of $11.665 per share. A separate transaction saw the acquisition of 610,091 shares at a weighted average price of $11.824 per share. According to a footnote, the shares in this larger transaction were purchased in multiple trades at prices ranging from $11.595 to $11.94.
Following these transactions, Makan directly holds 610,291 shares of Class A Common Stock. The insider buying comes as Netskope stock trades at $12.32, showing a strong 5.2% return over the past month despite being down 29.76% year-to-date. According to InvestingPro analysis, the stock appears slightly overvalued relative to its Fair Value. The company maintains a solid balance sheet with more cash than debt, though it remains unprofitable with a market cap of $5.02 billion. The ICONIQ entities involved are significant shareholders, with ICONIQ Strategic Partners VIII Holdings, L.P., ICONIQ Strategic Partners VIII GP, L.P., and ICONIQ Strategic Partners VIII TT GP, LLC each identified as a ten percent owner of Netskope. For deeper insights, InvestingPro offers a comprehensive Pro Research Report on Netskope, one of 1,400+ US equities covered, along with additional ProTips and advanced metrics to help investors make informed decisions. Divesh Makan and William J.G. Griffith are the sole managing members of ICONIQ Parent GP VIII, which is the general partner of ICONIQ Strategic Partners VIII GP, L.P. The reporting persons disclaim beneficial ownership of the reported securities for Section 16 purposes, except to the extent of their pecuniary interest.
NetskopeFollowAnalyze NTSKIncluded in our AI-picked strategies·Review strategies12.32▼-0.10(-0.81%)Closed·15:59:59·USD12.79▲+0.47(+3.81%)After Hours·19:59:051D1W1M6M1Y5YMaxCreated with Highcharts 11.4.814:0015:0016:0017:0018:0019:001212.212.4Analyze NTSKIn other recent news, Netskope reported annual recurring revenue (ARR) of $845 million, reflecting a 29% increase year-over-year. This figure aligned with Street expectations but was below TD Cowen’s estimate of $856 million. Additionally, Netskope’s total revenue reached approximately $202 million, marking a 28% year-over-year growth and surpassing the Street’s forecast of $198 million. Despite this, Mizuho noted the revenue beat was modest, marking the smallest upside since Netskope became a public company.
Several analyst firms have adjusted their price targets for Netskope. TD Cowen lowered its target to $19 from $25, maintaining a Buy rating, while BMO Capital reduced its target to $13 from $14, retaining an Outperform rating. Piper Sandler also decreased its target to $18 from $21, keeping an Overweight rating, and RBC Capital adjusted its target to $13 from $14, maintaining an Outperform rating. The firms highlighted various factors, including valuation concerns and competitive pressures in the security market.
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