SentinelOne (NYSE:S) Shares Gap Up – Here’s What Happened

Shares of SentinelOne, Inc. (NYSE:S) gapped up before the market opened on Thursday . The stock had previously closed at $22.05, but opened at $23.25. SentinelOne shares last traded at $22.85, with a volume of 1,015,363 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on S. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of SentinelOne in a research note on Friday, October 18th. Sanford C. Bernstein dropped their price target on shares of SentinelOne from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of SentinelOne from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Guggenheim restated a “buy” rating and issued a $31.00 price objective on shares of SentinelOne in a report on Thursday, December 5th. Finally, DA Davidson lifted their target price on SentinelOne from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.44.

SentinelOne Stock Performance

The business has a 50 day moving average of $26.23 and a two-hundred day moving average of $23.33. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of -23.86 and a beta of 0.67.

SentinelOne (NYSE:S) last issued its earnings results on Wednesday, December 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). SentinelOne had a negative return on equity of 15.80% and a negative net margin of 37.61%. The firm had revenue of $210.60 million during the quarter, compared to the consensus estimate of $209.73 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. SentinelOne’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities analysts predict that SentinelOne, Inc. will post -0.76 EPS for the current fiscal year.

Insider Activity

In related news, CEO Tomer Weingarten sold 60,864 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $23.42, for a total value of $1,425,434.88. Following the completion of the sale, the chief executive officer now directly owns 1,039,497 shares of the company’s stock, valued at approximately $24,345,019.74. This represents a 5.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ric Smith sold 14,583 shares of SentinelOne stock in a transaction on Friday, October 25th. The stock was sold at an average price of $26.28, for a total transaction of $383,241.24. Following the transaction, the insider now directly owns 585,647 shares in the company, valued at $15,390,803.16. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 418,999 shares of company stock worth $10,373,693 over the last three months. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SentinelOne

Several institutional investors and hedge funds have recently added to or reduced their stakes in S. Champlain Investment Partners LLC purchased a new stake in shares of SentinelOne during the 3rd quarter valued at $80,604,000. Sylebra Capital LLC increased its holdings in SentinelOne by 33.7% during the third quarter. Sylebra Capital LLC now owns 9,048,954 shares of the company’s stock worth $216,451,000 after buying an additional 2,282,980 shares during the last quarter. Atreides Management LP raised its position in SentinelOne by 137.3% in the third quarter. Atreides Management LP now owns 3,802,904 shares of the company’s stock worth $90,965,000 after acquiring an additional 2,200,594 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in SentinelOne in the second quarter worth about $36,237,000. Finally, Eminence Capital LP boosted its stake in SentinelOne by 24.2% in the second quarter. Eminence Capital LP now owns 6,854,236 shares of the company’s stock valued at $144,282,000 after acquiring an additional 1,337,145 shares during the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.

About SentinelOne

SentinelOne, Inc operates as a cybersecurity provider in the United States and internationally. Its Singularity Platform delivers an artificial intelligence-powered autonomous threat prevention, detection, and response capabilities across an organization's endpoints, cloud workloads, and identify credentials, which enables seamless and autonomous protection against a spectrum of cyber threats.