SentinelOne (NYSE:S) Price Target Cut to $26.00 by Analysts at Canaccord Genuity Group

SentinelOne (NYSE:S) had its target price lowered by Canaccord Genuity Group from $30.00 to $26.00 in a report issued on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other analysts have also issued reports on the company. Wells Fargo & Company dropped their price objective on SentinelOne from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday. Morgan Stanley cut their price target on SentinelOne from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Piper Sandler decreased their price objective on shares of SentinelOne from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday. Susquehanna cut their target price on shares of SentinelOne from $30.00 to $25.00 and set a “positive” rating for the company in a research note on Thursday. Finally, Robert W. Baird reduced their target price on shares of SentinelOne from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.59.

SentinelOne Stock Performance

Shares of S stock opened at $18.27 on Thursday. SentinelOne has a 52-week low of $14.33 and a 52-week high of $29.29. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of -19.43 and a beta of 0.78. The firm’s 50-day moving average is $22.44 and its 200-day moving average is $24.06.

Insider Activity at SentinelOne

In other news, CEO Tomer Weingarten sold 39,477 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $19.55, for a total value of $771,775.35. Following the completion of the transaction, the chief executive officer now owns 900,249 shares of the company’s stock, valued at approximately $17,599,867.95. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robin Tomasello sold 6,378 shares of SentinelOne stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $19.55, for a total transaction of $124,689.90. Following the sale, the chief accounting officer now directly owns 230,685 shares in the company, valued at $4,509,891.75. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 253,818 shares of company stock valued at $5,649,659 over the last three months. 5.60% of the stock is owned by insiders.

Institutional Trading of SentinelOne

A number of hedge funds and other institutional investors have recently modified their holdings of S. Amalgamated Bank boosted its stake in shares of SentinelOne by 14.3% during the third quarter. Amalgamated Bank now owns 14,886 shares of the company’s stock valued at $356,000 after purchasing an additional 1,857 shares in the last quarter. Principal Financial Group Inc. boosted its position in SentinelOne by 6.4% during the 3rd quarter. Principal Financial Group Inc. now owns 18,491 shares of the company’s stock worth $442,000 after buying an additional 1,111 shares during the period. Covestor Ltd grew its holdings in SentinelOne by 649.3% during the 3rd quarter. Covestor Ltd now owns 3,267 shares of the company’s stock worth $78,000 after acquiring an additional 2,831 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in SentinelOne in the 3rd quarter valued at approximately $225,000. Finally, KBC Group NV increased its position in SentinelOne by 778.0% in the 3rd quarter. KBC Group NV now owns 65,455 shares of the company’s stock valued at $1,566,000 after acquiring an additional 58,000 shares during the period. 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.