Key Points
New York Life sold 338,958 Netskope shares in the first quarter; the estimated transaction value was $4.21 million based on quarterly average prices.
Meanwhile, the quarter-end position value decreased by $15.31 million, reflecting both trading activity and stock price movement.
The fund now holds 1,035,245 Netskope shares, valued at $8.79 million as of March 31, 2026.
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On May 7, 2026, New York Life Insurance Co disclosed in an SEC filing that it sold 338,958 shares of Netskope (NASDAQ:NTSK), an estimated $4.21 million trade based on quarterly average pricing.
What happened
According to a Securities and Exchange Commission (SEC) filing dated May 7, 2026, New York Life Insurance Co sold 338,958 shares of Netskope during the first quarter of 2026. The estimated transaction value is $4.21 million, based on the average unadjusted closing price for the quarter. The fund’s quarter-end position in Netskope declined in value by $15.31 million, a figure that includes both share sales and price movement.
What else to know
- This sell reduces Netskope’s weight to 1.79% of the fund’s $490.55 million 13F assets under management.
- Top five holdings after the filing:
- NYSEMKT:VOO: $288.31 million (58.8% of AUM)
- NYSEMKT:SPY: $92.69 million (18.9% of AUM)
- NASDAQ:SECR: $25.99 million (5.3% of AUM)
- NYSEMKT:MMCA: $24.83 million (5.1% of AUM)
- As of May 6, 2026, Netskope shares were priced at $11. Shares have tumbled about 52% since the firm’s September IPO.
- The position was previously 5.3% of the fund's AUM as of the prior quarter.
Company overview
| Metric | Value |
|---|---|
| Price | $11 |
| Market Capitalization | $4.4 billion |
| Revenue (TTM) | $709.00 million |
| Net Income (TTM) | ($679.39 million) |
Company snapshot
- Netskope offers a unified cloud security platform (Netskope One) delivering data protection, secure access, threat prevention, and visibility across SaaS, web, cloud, and AI workloads.
- The firm targets organizations seeking advanced security solutions for hybrid, cloud, and AI-driven environments.
- It serves a customer base concentrated among large enterprises, leveraging a scalable subscription model.
Netskope, Inc. is a technology company specializing in cloud security, with a focus on providing comprehensive data protection and secure access for modern enterprise IT environments. The company leverages its unified platform to address the evolving security needs of organizations adopting SaaS, web, and AI workloads. With a scalable subscription model and a customer base concentrated among large enterprises, Netskope positions itself as a leader in the cloud security sector.
What this transaction means for investors
Netskope shares have been on a rough ride since the firm’s September IPO, falling about 50%. Fundamentally, however, Netskope’s latest quarter was actually solid. Fourth-quarter revenue climbed 32% year over year to $196.3 million, while ARR rose 31% to $811 million. The company also generated positive free cash flow for the first full fiscal year in its history and ended January with roughly $1.2 billion in cash, cash equivalents, and marketable securities.
The problem was the outlook. Netskope forecasts fiscal 2027 revenue between $870 million and $876 million, implying growth of roughly 23%, a notable deceleration from the 32% growth it posted in fiscal 2026, and investors, of course, took note.
Still, New York Life maintains a non-negligible stake in the firm, signaling that the sale doesn’t necessarily reflect a complete loss of faith in Netskope’s business, but instead a risk-reduction move ahead of what could be a complicated growth story.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
