Third Point Cuts Stake in SentinelOne

By 247patrick Published Jan 31, 10:34PM EST

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Third Point Cuts Stake in SentinelOne — © scyther5 / Getty Images

Fintel reports that Third Point has filed a 13D/A form with the SEC disclosing ownership of 10.15MM shares of SentinelOne, Inc. (S). This represents 4.43% of the company.

In their previous filing dated November 7, 2022 they reported 15.00MM shares and 6.70% of the company, a decrease in shares of 32.32% and a decrease in total ownership of 2.27% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 55.34% Upside

As of January 30, 2023, the average one-year price target for SentinelOne is $23.33. The forecasts range from a low of $15.66 to a high of $56.70. The average price target represents an increase of 55.34% from its latest reported closing price of $15.02.

The projected annual revenue for SentinelOne is $428MM, an increase of 18.46%. The projected annual EPS is -$0.76.

Fund Sentiment

There are 534 funds or institutions reporting positions in SentinelOne. This is an increase of 41 owner(s) or 8.32%.

Average portfolio weight of all funds dedicated to US:S is 0.3981%, a decrease of 4.9331%. Total shares owned by institutions decreased in the last three months by 2.12% to 208,385K shares.

What are large shareholders doing?

Insight Holdings Group holds 34,646,230 shares representing 12.26% ownership of the company. No change in the last quarter.

Price T Rowe Associates holds 14,660,277 shares representing 5.19% ownership of the company. In it’s prior filing, the firm reported owning 27,110,040 shares, representing a decrease of 84.92%. The firm decreased its portfolio allocation in S by 23.18% over the last quarter.

Anchorage Capital Group, L.L.C. holds 9,867,053 shares representing 3.49% ownership of the company. No change in the last quarter.

PRGFX – T. Rowe Price Growth Stock Fund holds 7,048,628 shares representing 2.49% ownership of the company. In it’s prior filing, the firm reported owning 7,077,682 shares, representing a decrease of 0.41%. The firm increased its portfolio allocation in S by 15.15% over the last quarter.

Capital Research Global Investors holds 6,692,048 shares representing 2.37% ownership of the company. In it’s prior filing, the firm reported owning 6,692,881 shares, representing a decrease of 0.01%. The firm increased its portfolio allocation in S by 15.55% over the last quarter.

SentinelOne Background Information
(This description is provided by the company.)

SentinelOne’s cybersecurity solutions encompass AI-powered prevention, detection, response and hunting across endpoints, containers, cloud workloads, and IoT devices in a single autonomous XDR platform.

This article originally appeared on Fintel

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