SentinelOne executive Ric Smith sells shares worth $339,620

Ric Smith, President of Product, Technology & Operations at SentinelOne , Inc. (NYSE:S), recently sold shares of the company’s Class A common stock. According to a recent SEC filing, Smith sold a total of 14,583 shares, generating approximately $339,620. The shares were sold at a weighted average price range between $23.2053 and $23.7064 per share.

Additionally, the filing revealed that Smith acquired 14,583 shares through the conversion of Class B common stock to Class A common stock, valued at approximately $142,038. Following these transactions, Smith now holds a total of 531,459 shares directly. InvestingPro analysis shows SentinelOne has demonstrated strong revenue growth of 34% and analysts expect the company to achieve profitability this year. Get access to 6 more exclusive InvestingPro Tips and comprehensive financial analysis with an InvestingPro subscription.

These transactions were executed under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest.

In other recent news, cybersecurity firm SentinelOne Inc has been the subject of significant attention from financial analysts. Oppenheimer initiated coverage on the company with an Outperform rating, citing an improved leadership team and promising sales strategies. They also highlighted the company’s rapid growth in non-endpoint market opportunities and anticipated acceleration in Net New Annual Recurring Revenue (NNARR).

In contrast, UBS downgraded SentinelOne’s stock from Buy to Neutral, citing decreased investor confidence and potential risks to consensus revenue estimates. Meanwhile, Cantor Fitzgerald assigned an Overweight rating to SentinelOne, acknowledging the company’s impressive revenue growth and strong demand for its products.

Bernstein maintained an Outperform rating on SentinelOne’s stock, despite lowering the price target following the company’s fiscal third quarter results. The company exceeded revenue expectations and increased its full-year revenue forecast. Piper Sandler analysts also noted a strong outlook for IT spending, with SentinelOne likely to benefit from the prioritization of cloud and data security. These are the recent developments for SentinelOne Inc.

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