SentinelOne , Inc. (NYNYSE:SE:S) President and CEO Tomer Weingarten (NYSE:WRI) disclosed the sale of 60,864 shares of the company's Class A common stock on November 13, according to a recent SEC filing. The shares were sold at an average weighted price of $28.0138, totaling approximately $1.7 million. This transaction was executed under a pre-established Rule 10b5-1 trading plan.
In the same filing, Weingarten reported the acquisition of 60,864 shares of Class A common stock through the conversion of Class B shares, at a conversion price of $9.74, amounting to a total value of $592,815. Following these transactions, Weingarten holds 1,019,541 shares of Class A common stock directly.
In other recent news, SentinelOne, a leading cybersecurity firm, has been the focus of several significant developments. Following a 33% year-over-year increase in Q2 revenue and a 32% rise in annual recurring revenue, the company was upgraded from Hold to Buy by Deutsche Bank (ETR:DBKGn), which also increased the price target to $32.00. SentinelOne has also expanded its collaboration with Amazon (NASDAQ:AMZN) Web Services (AWS) to bolster its AI-driven security capabilities, a move viewed favorably by industry analysts.
TD Cowen maintained its Buy rating and a $35 price target for SentinelOne, highlighting the company's strategic partnerships and expanding platform. Piper Sandler also maintained an Overweight rating for SentinelOne, emphasizing the company's AI advancements and new automation features. DA Davidson, while maintaining a Neutral rating, increased the price target for SentinelOne to $25.00.
SentinelOne also announced a major business agreement with Lenovo, planning to pre-install SentinelOne's basic Control package on new Lenovo PCs. This development was noted by several analysts and is expected to further strengthen SentinelOne's market position. Lastly, SentinelOne appointed Barbara Larson as its new Chief Financial Officer and received the Federal Risk and Authorization Management Program (FedRAMP) High Impact Level authorization for its Singularity Platform and Singularity Data Lake. These are the latest developments marking SentinelOne's continued growth trajectory.
InvestingPro Insights
SentinelOne's recent stock performance aligns with the insider transaction reported. According to InvestingPro data, the company has seen a strong return over the last three months, with a 18.13% price total return. This positive momentum extends to the one-year horizon, where SentinelOne has achieved an impressive 57.79% price total return.
Despite the CEO's recent share sale, SentinelOne's financial position appears robust. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, indicating financial stability. Additionally, SentinelOne's liquid assets exceed short-term obligations, suggesting a healthy liquidity position.
However, investors should note that SentinelOne is not currently profitable, with a negative P/E ratio of -28.23. This aligns with another InvestingPro Tip stating that the company has not been profitable over the last twelve months. Nevertheless, analysts predict that SentinelOne will turn profitable this year, which could be a positive catalyst for the stock.
For those seeking a more comprehensive analysis, InvestingPro offers 5 additional tips that could provide valuable insights into SentinelOne's investment potential.
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