Malaga Cove Capital LLC Acquires 26,871 Shares of SentinelOne, Inc. (NYSE:S)

Key Points

• Malaga Cove Capital LLC increased its stake in SentinelOne by 43.4%, acquiring 26,871 additional shares to hold a total of 88,770 shares worth approximately $1,614,000.
• The stock has witnessed multiple institutional investors increasing their holdings, with 90.87% of shares currently owned by institutional investors.
• SentinelOne's quarterly earnings reported $0.02 earnings per share and $229.03 million in revenue, showing a year-over-year revenue increase of 22.9%.

Malaga Cove Capital LLC lifted its holdings in SentinelOne, Inc. (NYSE:S - Free Report) by 43.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 88,770 shares of the company's stock after acquiring an additional 26,871 shares during the quarter. Malaga Cove Capital LLC's holdings in SentinelOne were worth $1,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in S. Sylebra Capital LLC lifted its position in SentinelOne by 6.2% in the fourth quarter. Sylebra Capital LLC now owns 9,613,281 shares of the company's stock valued at $213,415,000 after purchasing an additional 564,327 shares during the last quarter. Eminence Capital LP increased its stake in shares of SentinelOne by 6.4% in the fourth quarter. Eminence Capital LP now owns 6,533,894 shares of the company's stock worth $145,052,000 after buying an additional 392,986 shares during the period. Invesco Ltd. raised its holdings in SentinelOne by 18.4% during the 4th quarter. Invesco Ltd. now owns 5,788,022 shares of the company's stock valued at $128,494,000 after buying an additional 900,577 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in SentinelOne by 92.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,329,905 shares of the company's stock valued at $96,898,000 after buying an additional 2,558,702 shares during the period. Finally, Marshall Wace LLP grew its holdings in SentinelOne by 715.4% in the 4th quarter. Marshall Wace LLP now owns 4,794,908 shares of the company's stock worth $106,447,000 after acquiring an additional 4,206,900 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on S shares. Wells Fargo & Company reiterated an "equal weight" rating and issued a $18.00 price target (down previously from $22.00) on shares of SentinelOne in a report on Thursday, May 29th. Roth Capital set a $26.00 target price on shares of SentinelOne and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Westpark Capital decreased their price target on shares of SentinelOne from $31.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Barclays lowered their price objective on shares of SentinelOne from $21.00 to $19.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. Finally, UBS Group reduced their target price on SentinelOne from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, SentinelOne currently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

SentinelOne Stock Performance

Shares of S stock opened at $17.95 on Friday. The stock has a fifty day simple moving average of $18.25 and a two-hundred day simple moving average of $19.56. The firm has a market capitalization of $5.97 billion, a PE ratio of -13.60 and a beta of 0.77. SentinelOne, Inc. has a 52-week low of $15.36 and a 52-week high of $29.29.

SentinelOne (NYSE:S - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $229.03 million during the quarter, compared to the consensus estimate of $228.39 million. SentinelOne had a negative return on equity of 15.95% and a negative net margin of 49.36%. SentinelOne's revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts forecast that SentinelOne, Inc. will post -0.76 EPS for the current fiscal year.

Insider Activity at SentinelOne

In other news, CEO Tomer Weingarten sold 10,336 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $18.54, for a total transaction of $191,629.44. Following the completion of the transaction, the chief executive officer directly owned 1,571,060 shares in the company, valued at approximately $29,127,452.40. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ric Smith sold 27,481 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $18.28, for a total transaction of $502,352.68. Following the sale, the insider directly owned 1,030,544 shares in the company, valued at approximately $18,838,344.32. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,619 shares of company stock valued at $1,386,302. Insiders own 4.33% 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.

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