SentinelOne (NYSE:S) Sees Large Volume Increase After Analyst Upgrade

Shares of SentinelOne, Inc. (NYSE:S) saw strong trading volume on Thursday after Scotiabank raised their price target on the stock from $25.00 to $26.00. Scotiabank currently has a sector perform rating on the stock. 8,166,949 shares changed hands during mid-day trading, an increase of 58% from the previous session’s volume of 5,164,057 shares.The stock last traded at $25.85 and had previously closed at $28.68.

S has been the topic of a number of other research reports. Robert W. Baird boosted their target price on shares of SentinelOne from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Sanford C. Bernstein dropped their target price on shares of SentinelOne from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday. BTIG Research boosted their target price on shares of SentinelOne from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. DA Davidson boosted their target price on shares of SentinelOne from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SentinelOne from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.42.

Insider Buying and Selling

In related news, CFO David J. Bernhardt sold 11,222 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $21.40, for a total transaction of $240,150.80. Following the completion of the sale, the chief financial officer now directly owns 477,781 shares of the company’s stock, valued at approximately $10,224,513.40. This represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ric Smith sold 23,567 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $21.89, for a total value of $515,881.63. Following the sale, the insider now directly owns 585,647 shares of the company’s stock, valued at approximately $12,819,812.83. The trade was a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,754 shares of company stock worth $8,532,505 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On SentinelOne

A number of large investors have recently bought and sold shares of the company. Sylebra Capital LLC boosted its holdings in shares of SentinelOne by 33.7% in the 3rd quarter. Sylebra Capital LLC now owns 9,048,954 shares of the company’s stock valued at $216,451,000 after buying an additional 2,282,980 shares during the last quarter. Eminence Capital LP boosted its holdings in shares of SentinelOne by 24.2% in the 2nd quarter. Eminence Capital LP now owns 6,854,236 shares of the company’s stock valued at $144,282,000 after buying an additional 1,337,145 shares during the last quarter. State Street Corp boosted its holdings in shares of SentinelOne by 11.3% in the 3rd quarter. State Street Corp now owns 5,072,097 shares of the company’s stock valued at $121,325,000 after buying an additional 516,244 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 355,944 shares during the last quarter. Finally, Atreides Management LP boosted its holdings 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 valued at $90,965,000 after buying an additional 2,200,594 shares during the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.

SentinelOne Stock Performance

The company has a market cap of $8.18 billion, a price-to-earnings ratio of -27.43 and a beta of 0.67. The firm has a fifty day moving average price of $26.31 and a 200 day moving average price of $23.15.

SentinelOne (NYSE:S) last announced 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 net margin of 38.91% and a negative return on equity of 15.42%. The business had revenue of $210.60 million for the quarter, compared to analyst estimates of $209.73 million. During the same period in the prior year, the business earned ($0.21) EPS. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, analysts expect that SentinelOne, Inc. will post -0.73 EPS for the current fiscal year.

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.