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

SentinelOne (NYSE:S) had its price objective cut by Scotiabank from $26.00 to $19.00 in a research report released on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

Several other brokerages have also recently weighed in on S. Robert W. Baird decreased their price target on SentinelOne from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Cantor Fitzgerald initiated coverage on SentinelOne in a research report on Thursday, January 9th. They set an “overweight” rating and a $30.00 price target on the stock. Piper Sandler decreased their price target on SentinelOne from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group cut SentinelOne from a “buy” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $25.00 in a research report on Wednesday, January 15th. Finally, Oppenheimer initiated coverage on SentinelOne in a research report on Wednesday, January 15th. They set an “outperform” rating and a $32.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.59.

SentinelOne Stock Performance

Shares of SentinelOne stock opened at $18.56 on Thursday. SentinelOne has a 52-week low of $14.33 and a 52-week high of $29.29. The stock’s 50-day simple moving average is $22.27 and its 200 day simple moving average is $23.97. The stock has a market capitalization of $5.96 billion, a P/E ratio of -19.74 and a beta of 0.78.

Insiders Place Their Bets

In related news, CEO Tomer Weingarten sold 60,864 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.52, for a total transaction of $1,370,657.28. Following the completion of the transaction, the chief executive officer now owns 959,682 shares in the company, valued at $21,612,038.64. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ric Smith sold 14,583 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $22.75, for a total value of $331,763.25. Following the transaction, the insider now owns 531,459 shares of the company’s stock, valued at approximately $12,090,692.25. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 253,818 shares of company stock valued at $5,649,659 over the last quarter. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SentinelOne

Institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its position in shares of SentinelOne by 14.3% during the third quarter. Amalgamated Bank now owns 14,886 shares of the company’s stock valued at $356,000 after buying an additional 1,857 shares during the last quarter. Principal Financial Group Inc. boosted its position in SentinelOne by 6.4% in the third quarter. Principal Financial Group Inc. now owns 18,491 shares of the company’s stock worth $442,000 after purchasing an additional 1,111 shares during the last quarter. Covestor Ltd boosted its position in SentinelOne by 649.3% in the third quarter. Covestor Ltd now owns 3,267 shares of the company’s stock worth $78,000 after purchasing an additional 2,831 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in SentinelOne in the third quarter worth about $225,000. Finally, KBC Group NV boosted its position in SentinelOne by 778.0% in the third quarter. KBC Group NV now owns 65,455 shares of the company’s stock worth $1,566,000 after purchasing an additional 58,000 shares during the last quarter. Institutional investors own 90.87% of the company’s stock.

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.