SentinelOne Shares Dip 2.3% Following Analyst Downgrade

SentinelOne, Inc. (NYSE:S) experienced a 2.3% decline in its share price during trading on Friday. This drop followed an analyst downgrade from Jefferies Financial Group, which reduced its price target for the stock from $30.00 to $25.00. Despite the downgrade, Jefferies maintains a buy rating on the stock. At one point, SentinelOne shares traded as low as $17.53 and ended the day at $17.82. A total of 2,027,413 shares were exchanged during midday trading, marking a significant decline of 59% from the average session volume of 4,929,913 shares. The stock's previous closing price was $18.23.

Analyst Ratings and Target Price Changes

In addition to Jefferies' report, several other investment firms have recently provided their assessments of SentinelOne. Barclays cut their target price from $24.00 to $22.00 while maintaining an "equal weight" rating. Citigroup also reduced their target price, moving it from $28.00 to $27.00 with a "neutral" rating. In contrast, Guggenheim reaffirmed a "buy" rating with a price target of $31.00. Piper Sandler adjusted their target from $32.00 to $28.00, assigning an "overweight" rating. Furthermore, Cantor Fitzgerald lowered their price goal from $30.00 to $24.00, while still maintaining an "overweight" rating. Across the board, seven analysts rate the stock as a hold, nineteen give it a buy rating, and two analysts attribute a strong buy status. Overall, the stock holds a "Moderate Buy" rating with an average target price of $26.59 according to MarketBeat.

Insider Trading Activity

Recent trading activity also included notable insider sales. CEO Tomer Weingarten sold 70,642 shares on February 11th for an average price of $24.22, amounting to approximately $1.71 million. Post-sale, Weingarten retains 939,726 shares valued at around $22.76 million, representing a 6.99% decrease in his ownership. Additionally, Chief Accounting Officer Robin Tomasello sold 6,378 shares on March 6th for an average price of $19.55, totaling nearly $125,000. After this transaction, Tomasello's holding consists of 230,685 shares worth approximately $4.51 million. In total, insiders have sold 253,818 shares valued at $5.65 million over the past ninety days, with corporate insiders owning about 5.60% of the company's stock.

Institutional Investments in SentinelOne

Furthermore, institutional investors have been adjusting their positions in SentinelOne. Smartleaf Asset Management LLC increased its holdings in the fourth quarter, growing its stake by 86.6% with an additional 556 shares purchased. Other firms, such as Avion Wealth and Crewe Advisors, also acquired new positions in SentinelOne during this period. Point72 Asia Singapore and Arlington Trust Co. both invested in the stock as well. Currently, institutional investors own approximately 90.87% of SentinelOne's equity.

SentinelOne Company Overview

SentinelOne operates as a cybersecurity provider both in the United States and globally. Its main product, the Singularity Platform, utilizes artificial intelligence for autonomous threat prevention, detection, and response across various organizational endpoints and cloud workloads. This technology aims to provide efficient protection against a diverse range of cyber threats.

Stock Performance Analysis

As of now, SentinelOne boasts a market capitalization of approximately $5.71 billion, a PE ratio of -18.85, and a beta of 0.78. The stock's 50-day and 200-day moving averages stand at $22.35 and $24.02, respectively.

SentinelOne, Stocks, Downgrade