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

SentinelOne, Inc. (NYSE:S) gapped up before the market opened on Thursday . The stock had previously closed at $20.51, but opened at $21.80. SentinelOne shares last traded at $22.2790, with a volume of 1,688,036 shares traded.

Analysts Set New Price Targets

A number of analysts have issued reports on S shares. JPMorgan Chase & Co. raised their target price on SentinelOne from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Deutsche Bank Aktiengesellschaft set a $24.00 price objective on shares of SentinelOne in a research report on Monday, August 17th. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of SentinelOne in a report on Friday, May 29th. Canaccord Genuity Group increased their price target on shares of SentinelOne from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Guggenheim raised their price target on shares of SentinelOne from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.07.

SentinelOne Trading Up 7.8%

The firm has a market capitalization of $7.58 billion, a PE ratio of -23.01 and a beta of 0.79. The business has a fifty day moving average price of $19.04 and a two-hundred day moving average price of $16.19.

SentinelOne (NYSE:S) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. SentinelOne had a negative net margin of 30.39% and a negative return on equity of 15.35%. The firm had revenue of $276.66 million for the quarter, compared to analyst estimates of $277.31 million. During the same period in the previous year, the firm earned $0.02 EPS. SentinelOne’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts forecast that SentinelOne, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at SentinelOne

In other news, insider Ana G. Pinczuk sold 6,230 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $20.09, for a total value of $125,160.70. Following the sale, the insider directly owned 737,716 shares of the company’s stock, valued at approximately $14,820,714.44. The trade was a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Robin Tomasello sold 5,467 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $20.08, for a total transaction of $109,777.36. Following the completion of the sale, the chief accounting officer directly owned 439,863 shares in the company, valued at $8,832,449.04. This trade represents a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 423,705 shares of company stock valued at $7,369,527. 4.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Allied Private Wealth LLC acquired a new stake in shares of SentinelOne in the second quarter valued at $25,000. Allworth Financial LP raised its holdings in shares of SentinelOne by 102.4% in the 3rd quarter. Allworth Financial LP now owns 1,435 shares of the company’s stock valued at $25,000 after buying an additional 726 shares during the period. Danske Bank A S acquired a new position in SentinelOne during the 3rd quarter worth about $26,000. EFG International AG acquired a new position in SentinelOne during the 4th quarter worth about $41,000. Finally, Root Financial Partners LLC boosted its holdings in SentinelOne by 4,582.8% during the 1st quarter. Root Financial Partners LLC now owns 4,355 shares of the company’s stock valued at $56,000 after acquiring an additional 4,262 shares during the period. 90.87% of the stock is currently owned by institutional investors and hedge funds.

About SentinelOne

SentinelOne, Inc is a cybersecurity company specializing in AI-driven, autonomous endpoint protection. Founded in 2013 and headquartered in Mountain View, California, the firm developed its Singularity Platform to unify prevention, detection, response, and hunting across endpoints, cloud workloads, containers and IoT devices. SentinelOne’s solutions leverage machine learning and behavioral analytics to identify threats in real time, automate remediation workflows and deliver forensics to support rapid incident response.

The company’s flagship product suite includes endpoint security agents, cloud workload protection, identity threat detection and extended detection and response (XDR) capabilities.