Scotiabank Has Lowered Expectations for SentinelOne (NYSE:S) Stock Price

SentinelOne (NYSE:S) had its price target reduced by Scotiabank from $26.00 to $19.00 in a report released on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 0.07% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Barclays cut their price target on SentinelOne from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company dropped their target price on shares of SentinelOne from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler reduced their target price on shares of SentinelOne from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday. Oppenheimer assumed coverage on shares of SentinelOne in a report on Wednesday, January 15th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, Jefferies Financial Group upgraded SentinelOne from a “hold” rating to a “buy” rating and increased their price objective for the company from $27.00 to $30.00 in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.33.

SentinelOne Stock Down 1.6 %

S stock traded down $0.31 during midday trading on Thursday, reaching $18.99. 10,759,000 shares of the company’s stock traded hands, compared to its average volume of 4,735,457. The company has a 50-day simple moving average of $22.44 and a two-hundred day simple moving average of $24.06. SentinelOne has a 1-year low of $14.33 and a 1-year high of $29.29. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -20.21 and a beta of 0.78.

Insider Activity at SentinelOne

In other news, CEO Tomer Weingarten sold 70,642 shares of SentinelOne stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $24.22, for a total value of $1,710,949.24. Following the completion of the transaction, the chief executive officer now owns 939,726 shares of the company’s stock, valued at $22,760,163.72. This trade represents a 6.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ric Smith sold 2,341 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $23.95, for a total transaction of $56,066.95. Following the completion of the sale, the insider now directly owns 529,118 shares in the company, valued at approximately $12,672,376.10. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 314,682 shares of company stock valued at $7,094,571. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SentinelOne

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of SentinelOne by 14.3% in the 3rd quarter. Amalgamated Bank now owns 14,886 shares of the company’s stock valued at $356,000 after purchasing an additional 1,857 shares during the last quarter. Principal Financial Group Inc. boosted its stake in SentinelOne by 6.4% in the third quarter. Principal Financial Group Inc. now owns 18,491 shares of the company’s stock valued at $442,000 after buying an additional 1,111 shares in the last quarter. Covestor Ltd grew its position in SentinelOne by 649.3% in the third quarter. Covestor Ltd now owns 3,267 shares of the company’s stock valued at $78,000 after acquiring an additional 2,831 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in SentinelOne during the third quarter worth about $225,000. Finally, KBC Group NV boosted its stake in shares of SentinelOne by 778.0% in the 3rd quarter. KBC Group NV now owns 65,455 shares of the company’s stock valued at $1,566,000 after purchasing an additional 58,000 shares in the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

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.