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

SentinelOne, Inc. (NYSE:S) shares 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.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group raised shares of SentinelOne from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $30.00 in a research note on Thursday. Barclays lowered their price objective on SentinelOne from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. Piper Sandler raised shares of SentinelOne from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $25.00 to $32.00 in a report on Monday, October 14th. BTIG Research increased their price objective on shares of SentinelOne from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Sanford C. Bernstein decreased their target price on SentinelOne from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.44.

SentinelOne Stock Performance

The firm has a market cap of $7.19 billion, a P/E ratio of -23.79 and a beta of 0.67. The company has a 50 day moving average of $26.30 and a 200 day moving average of $23.33.

SentinelOne (NYSE:S) last released its quarterly earnings results on Wednesday, December 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $210.60 million for the quarter, compared to the consensus estimate of $209.73 million. During the same quarter last year, the company posted ($0.21) EPS. The business’s revenue was up 28.3% compared to the same quarter last year. As a group, analysts expect that SentinelOne, Inc. will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling

In other SentinelOne news, insider Ric Smith sold 41,170 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $23.98, for a total transaction of $987,256.60. Following the sale, the insider now directly owns 531,459 shares of the company’s stock, valued at approximately $12,744,386.82. This represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tomer Weingarten sold 60,864 shares of SentinelOne stock in a transaction on Monday, October 7th. The shares were sold at an average price of $23.42, for a total value of $1,425,434.88. Following the completion of the transaction, the chief executive officer now owns 1,039,497 shares of the company’s stock, valued at approximately $24,345,019.74. The trade was a 5.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 418,999 shares of company stock valued at $10,373,693. 5.60% of the stock is owned by company insiders.

Institutional Trading of SentinelOne

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC raised its stake in shares of 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. Eminence Capital LP raised its position in shares of SentinelOne by 24.2% during the 2nd 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. State Street Corp raised its position in shares of SentinelOne by 11.3% during the 3rd quarter. State Street Corp now owns 5,072,097 shares of the company’s stock valued at $121,325,000 after acquiring an additional 516,244 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of SentinelOne by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,485,596 shares of the company’s stock valued at $107,326,000 after purchasing an additional 355,944 shares during the period. Finally, Atreides Management LP boosted its position in shares of SentinelOne by 137.3% in the 3rd quarter. Atreides Management LP now owns 3,802,904 shares of the company’s stock worth $90,965,000 after purchasing an additional 2,200,594 shares during the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.

SentinelOne Company Profile

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.