SentinelOne (NYSE:S) Shares Gap Down – Time to Sell?

Shares of SentinelOne, Inc. (NYSE:S) gapped down before the market opened on Monday . The stock had previously closed at $27.95, but opened at $27.25. SentinelOne shares last traded at $27.15, with a volume of 1,589,163 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on S. Piper Sandler upgraded shares of SentinelOne from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $32.00 in a research report on Monday, October 14th. Wedbush upgraded shares of SentinelOne to a “strong-buy” rating in a report on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of SentinelOne from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Sanford C. Bernstein dropped their price target on SentinelOne from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $30.00 price objective on shares of SentinelOne in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.04.

SentinelOne Trading Down 1.3 %

The business’s fifty day simple moving average is $26.03 and its two-hundred day simple moving average is $23.00. The stock has a market capitalization of $8.75 billion, a P/E ratio of -29.35 and a beta of 0.65.

Insider Activity at SentinelOne

In other news, insider Ric Smith sold 14,584 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $22.99, for a total value of $335,286.16. Following the completion of the sale, the insider now directly owns 636,699 shares in the company, valued at approximately $14,637,710.01. This trade represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robin Tomasello sold 5,022 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $22.80, for a total value of $114,501.60. Following the sale, the chief accounting officer now owns 193,542 shares of the company’s stock, valued at approximately $4,412,757.60. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 432,125 shares of company stock worth $10,367,734 over the last three months. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On SentinelOne

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. raised its stake in shares of SentinelOne by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 26,424 shares of the company’s stock valued at $698,000 after purchasing an additional 1,366 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of SentinelOne during the 3rd quarter worth about $67,000. Ashford Capital Management Inc. raised its holdings in shares of SentinelOne by 72.7% in the 3rd quarter. Ashford Capital Management Inc. now owns 658,435 shares of the company’s stock valued at $15,750,000 after purchasing an additional 277,235 shares during the period. Geode Capital Management LLC raised 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 purchasing an additional 355,944 shares during the period. Finally, Sylebra Capital LLC grew its holdings in SentinelOne by 33.7% during the third quarter. Sylebra Capital LLC now owns 9,048,954 shares of the company’s stock worth $216,451,000 after purchasing an additional 2,282,980 shares during the period. 90.87% of the stock is currently owned by institutional investors and hedge funds.

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.