Norges Bank Buys New Stake in SentinelOne, Inc. (NYSE:S)

Norges Bank bought a new position in shares of SentinelOne, Inc. (NYSE:S - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,312,081 shares of the company's stock, valued at approximately $73,528,000. Norges Bank owned 1.03% of SentinelOne as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. EFG Asset Management North America Corp. increased its holdings in SentinelOne by 58.2% during the 4th quarter. EFG Asset Management North America Corp. now owns 117,748 shares of the company's stock worth $2,613,000 after purchasing an additional 43,340 shares during the period. Segall Bryant & Hamill LLC increased its stake in shares of SentinelOne by 83.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 673,602 shares of the company's stock worth $14,954,000 after buying an additional 305,729 shares during the period. Prudential Financial Inc. raised its holdings in SentinelOne by 27.6% in the fourth quarter. Prudential Financial Inc. now owns 15,130 shares of the company's stock valued at $336,000 after acquiring an additional 3,269 shares in the last quarter. Partners Group Holding AG acquired a new stake in SentinelOne in the fourth quarter valued at approximately $507,000. Finally, Emerald Advisers LLC purchased a new position in SentinelOne in the fourth quarter worth approximately $306,000. 90.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SentinelOne

In other news, CEO Tomer Weingarten sold 70,642 shares of SentinelOne stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $24.22, for a total transaction 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. The trade was a 6.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robin Tomasello sold 1,496 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $19.77, for a total transaction of $29,575.92. Following the completion of the sale, the chief accounting officer now directly owns 233,484 shares in the company, valued at approximately $4,615,978.68. The trade was a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 455,855 shares of company stock worth $9,528,052 over the last 90 days. Company insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on S shares. Cantor Fitzgerald reduced their price objective on shares of SentinelOne from $30.00 to $24.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Oppenheimer initiated coverage on SentinelOne in a research note on Wednesday, January 15th. They issued an "outperform" rating and a $32.00 price target on the stock. Needham & Company LLC lowered their price objective on SentinelOne from $32.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Robert W. Baird cut their target price on SentinelOne from $30.00 to $28.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Finally, Stephens started coverage on shares of SentinelOne in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $25.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.21.

SentinelOne Price Performance

Shares of S stock traded down $0.01 during mid-day trading on Monday, hitting $16.91. The stock had a trading volume of 6,653,083 shares, compared to its average volume of 4,927,202. SentinelOne, Inc. has a fifty-two week low of $14.33 and a fifty-two week high of $29.29. The company's 50-day simple moving average is $21.10 and its 200-day simple moving average is $23.49. The firm has a market cap of $5.57 billion, a PE ratio of -17.98 and a beta of 0.82.

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.