Atreides Management LP Increases Stock Holdings in SentinelOne, Inc. (NYSE:S)

Atreides Management LP lifted its position in SentinelOne, Inc. (NYSE:S) by 137.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,802,904 shares of the company’s stock after purchasing an additional 2,200,594 shares during the quarter. SentinelOne comprises about 2.3% of Atreides Management LP’s holdings, making the stock its 14th biggest holding. Atreides Management LP owned approximately 1.20% of SentinelOne worth $90,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Waldron Private Wealth LLC purchased a new position in SentinelOne during the third quarter worth about $26,000. Blue Trust Inc. purchased a new position in SentinelOne during the second quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its stake in SentinelOne by 49.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,318 shares of the company’s stock worth $28,000 after buying an additional 434 shares during the period. Sugarloaf Wealth Management LLC boosted its stake in SentinelOne by 56.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 1,950 shares of the company’s stock worth $41,000 after buying an additional 700 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new position in SentinelOne during the second quarter worth about $49,000. Hedge funds and other institutional investors own 90.87% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ric Smith sold 14,584 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 636,699 shares in the company, valued at $14,637,710.01. This represents a 2.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tomer Weingarten sold 82,116 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $21.60, for a total transaction of $1,773,705.60. Following the completion of the sale, the chief executive officer now owns 1,039,497 shares of the company’s stock, valued at approximately $22,453,135.20. This trade represents a 7.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 432,125 shares of company stock valued at $10,367,734. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on S. Morgan Stanley increased their target price on shares of SentinelOne from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Wells Fargo & Company increased their target price on shares of SentinelOne from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Canaccord Genuity Group reissued a “buy” rating and issued a $30.00 price objective on shares of SentinelOne in a research note on Friday, October 18th. Needham & Company LLC assumed coverage on shares of SentinelOne in a research note on Thursday, October 17th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Susquehanna raised their price objective on shares of SentinelOne from $22.00 to $28.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SentinelOne currently has a consensus rating of “Moderate Buy” and an average price target of $28.96.

SentinelOne Trading Down 0.5 %

S stock opened at $27.95 on Monday. SentinelOne, Inc. has a twelve month low of $14.33 and a twelve month high of $30.76. The company’s 50 day moving average is $26.03 and its two-hundred day moving average is $23.00. The stock has a market cap of $8.87 billion, a P/E ratio of -30.05 and a beta of 0.65.

SentinelOne Company Profile

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.