SentinelOne (NYSE:S) Shares Gap Up After Analyst Upgrade

Key Points

• SentinelOne's stock price surged from $17.61 to $19.00 after Barclays upgraded its price target from $19.00 to $21.00, reflecting a positive outlook on the company's performance.
• Insider transactions show a 1.83% decrease in ownership for Keenan Michael Conder and a 2.60% decrease for Ric Smith after selling shares at an average price of $18.28.
• Institutional investors own 90.87% of SentinelOne, with several new positions being added recently, indicating strong interest in the stock from larger investors.

SentinelOne, Inc. (NYSE:S - Get Free Report) gapped up before the market opened on Friday after Barclays raised their price target on the stock from $19.00 to $21.00. The stock had previously closed at $17.61, but opened at $19.00. Barclays currently has an equal weight rating on the stock. SentinelOne shares last traded at $18.66, with a volume of 3,264,671 shares trading hands.

Several other analysts have also recently weighed in on S. Guggenheim reaffirmed a "buy" rating and issued a $28.00 price target on shares of SentinelOne in a report on Wednesday, May 21st. Bank of America reiterated a "neutral" rating and set a $21.00 price target on shares of SentinelOne in a research report on Thursday, May 29th. Susquehanna dropped their price target on SentinelOne from $25.00 to $24.00 and set a "positive" rating for the company in a research report on Thursday, May 29th. Westpark Capital reissued a "buy" rating and set a $25.00 price objective on shares of SentinelOne in a report on Friday. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of SentinelOne in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, SentinelOne has a consensus rating of "Moderate Buy" and a consensus price target of $23.81.

Insider Transactions at SentinelOne

In related news, insider Keenan Michael Conder sold 11,097 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $18.28, for a total transaction of $202,853.16. Following the completion of the transaction, the insider owned 596,332 shares of the company's stock, valued at $10,900,948.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ric Smith sold 27,481 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $18.28, for a total value of $502,352.68. Following the transaction, the insider directly owned 1,030,544 shares of the company's stock, valued at approximately $18,838,344.32. This trade represents a 2.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,730 shares of company stock worth $2,366,017. 4.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co bought a new position in SentinelOne during the 1st quarter valued at approximately $26,000. Atlantic Union Bankshares Corp bought a new position in SentinelOne during the 2nd quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in SentinelOne during the 4th quarter valued at approximately $38,000. GAMMA Investing LLC increased its position in SentinelOne by 513.3% during the 1st quarter. GAMMA Investing LLC now owns 1,938 shares of the company's stock valued at $35,000 after buying an additional 1,622 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in SentinelOne by 94.0% during the 1st quarter. Parallel Advisors LLC now owns 1,944 shares of the company's stock valued at $35,000 after purchasing an additional 942 shares during the last quarter. Institutional investors own 90.87% of the company's stock.

SentinelOne Trading Up 6.6%

The firm has a 50 day simple moving average of $17.77 and a 200 day simple moving average of $18.71. The firm has a market capitalization of $6.24 billion, a PE ratio of -14.19 and a beta of 0.77.

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

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