Scotiabank Lowers SentinelOne (NYSE:S) Price Target to $19.00

SentinelOne (NYSE:S) had its price objective lowered by research analysts at Scotiabank from $26.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 2.39% from the stock’s current price.

A number of other brokerages have also issued reports on S. Jefferies Financial Group upgraded shares of SentinelOne from a “hold” rating to a “buy” rating and upped their target price for the company from $27.00 to $30.00 in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of SentinelOne from $33.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Robert W. Baird cut their target price on shares of SentinelOne from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday. Cantor Fitzgerald assumed coverage on shares of SentinelOne in a research note on Thursday, January 9th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Piper Sandler dropped their price objective on shares of SentinelOne from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SentinelOne currently has a consensus rating of “Moderate Buy” and an average target price of $26.59.

SentinelOne Stock Performance

Shares of SentinelOne stock opened at $18.56 on Thursday. The firm has a market cap of $5.96 billion, a PE ratio of -19.74 and a beta of 0.78. The firm’s 50-day simple moving average is $22.35 and its 200-day simple moving average is $24.02. SentinelOne has a 1 year low of $14.33 and a 1 year high of $29.29.

Insider Activity

In related news, CAO Robin Tomasello sold 6,378 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $19.55, for a total transaction of $124,689.90. Following the completion of the sale, the chief accounting officer now directly owns 230,685 shares in the company, valued at approximately $4,509,891.75. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ric Smith sold 14,583 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $22.75, for a total transaction of $331,763.25. Following the sale, the insider now owns 531,459 shares of the company’s stock, valued at $12,090,692.25. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 253,818 shares of company stock worth $5,649,659 over the last three months. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of SentinelOne

A number of large investors have recently added to or reduced their stakes in S. Marshall Wace LLP boosted its holdings in SentinelOne by 715.4% during the fourth quarter. Marshall Wace LLP now owns 4,794,908 shares of the company’s stock worth $106,447,000 after buying an additional 4,206,900 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of SentinelOne in the 3rd quarter valued at approximately $80,604,000. Norges Bank purchased a new stake in shares of SentinelOne in the 4th quarter valued at approximately $73,528,000. Point72 Asset Management L.P. purchased a new stake in shares of SentinelOne in the 4th quarter valued at approximately $63,120,000. Finally, Sylebra Capital LLC lifted its position in shares of SentinelOne by 33.7% in the 3rd quarter. Sylebra Capital LLC now owns 9,048,954 shares of the company’s stock valued at $216,451,000 after acquiring an additional 2,282,980 shares in the last quarter. 90.87% of the stock is currently owned by institutional investors.

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.