Atreides Management LP Purchases 55,986 Shares of SentinelOne, Inc. $S

Key Points

• Atreides Management LP increased its stake in SentinelOne, Inc. by 1.7%, bringing its total holdings to 3,357,817 shares, valued at approximately $61 million.
• Insiders at SentinelOne have recently sold a total of 133,730 shares worth about $2.37 million, reflecting a slight decrease in their ownership percentages.
• SentinelOne's stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $24.33 following various adjustments from multiple research firms.

Atreides Management LP increased its holdings in SentinelOne, Inc. (NYSE:S - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,357,817 shares of the company's stock after buying an additional 55,986 shares during the period. SentinelOne accounts for 1.9% of Atreides Management LP's investment portfolio, making the stock its 18th biggest position. Atreides Management LP owned approximately 1.02% of SentinelOne worth $61,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co bought a new position in SentinelOne in the 1st quarter worth approximately $26,000. Parallel Advisors LLC boosted its holdings in SentinelOne by 94.0% in the 1st quarter. Parallel Advisors LLC now owns 1,944 shares of the company's stock worth $35,000 after buying an additional 942 shares during the period. GAMMA Investing LLC boosted its holdings in SentinelOne by 513.3% in the 1st quarter. GAMMA Investing LLC now owns 1,938 shares of the company's stock worth $35,000 after buying an additional 1,622 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in SentinelOne in the 4th quarter worth approximately $38,000. Finally, Versant Capital Management Inc boosted its holdings in SentinelOne by 510.9% in the 1st quarter. Versant Capital Management Inc now owns 2,297 shares of the company's stock worth $42,000 after buying an additional 1,921 shares during the period. 90.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Needham & Company LLC raised their price objective on shares of SentinelOne from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Barclays raised their price objective on shares of SentinelOne from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, August 29th. Guggenheim reaffirmed a "buy" rating and issued a $28.00 price objective on shares of SentinelOne in a report on Friday, August 29th. Rosenblatt Securities began coverage on shares of SentinelOne in a report on Friday, July 18th. They issued a "buy" rating and a $24.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of SentinelOne from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 29th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.29.

Insider Activity

In other SentinelOne news, insider Ric Smith sold 15,163 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $16.68, for a total value of $252,918.84. Following the sale, the insider owned 976,056 shares of the company's stock, valued at $16,280,614.08. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keenan Michael Conder sold 5,827 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $17.31, for a total transaction of $100,865.37. Following the completion of the sale, the insider directly owned 590,505 shares in the company, valued at approximately $10,221,641.55. This trade represents a 0.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,730 shares of company stock worth $2,366,017 in the last quarter. Insiders own 4.33% of the company's stock.

SentinelOne Stock Performance

NYSE:S traded up $0.11 during trading hours on Thursday, reaching $18.13. The company's stock had a trading volume of 6,524,057 shares, compared to its average volume of 7,229,962. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of -13.74 and a beta of 0.78. The firm has a 50-day simple moving average of $17.84 and a 200-day simple moving average of $18.50. SentinelOne, Inc. has a 1 year low of $15.36 and a 1 year high of $29.29.

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.