Tomer Weingarten (NYSE:WRI), President and CEO of SentinelOne , Inc. (NYNYSE:SE:S), has sold shares worth $266,831, according to a recent SEC filing. The transaction involved the sale of 10,165 shares of Class A Common Stock at a price of $26.25 per share. This sale was a mandatory transaction to cover tax obligations related to the vesting of Restricted Stock Units, as per the company's equity incentive plan. Following the sale, Weingarten holds 1,029,332 shares, some of which are subject to forfeiture if vesting conditions are not met.
In other recent news, cybersecurity firm SentinelOne has reported a 33% year-over-year increase in Q2 revenue and a 32% rise in annual recurring revenue. The company has expanded its collaboration with Amazon (NASDAQ:AMZN) Web Services (AWS) to enhance its AI-driven security capabilities, and has announced a major business agreement with Lenovo to pre-install SentinelOne's basic Control package on new Lenovo PCs. Several analyst firms have maintained positive ratings for SentinelOne, with TD Cowen, Piper Sandler, and Loop Capital all reiterating their Buy ratings, while DA Davidson kept a Neutral stance. SentinelOne has also 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 among the recent developments shaping SentinelOne's trajectory in the cybersecurity sector.
InvestingPro Insights
SentinelOne's recent stock performance and financial metrics provide additional context to CEO Tomer Weingarten's recent share sale. According to InvestingPro data, SentinelOne has seen a strong return over the past year, with a one-year price total return of 76.28%. This impressive performance is further underscored by the company's robust short-term momentum, as evidenced by a 29.19% return over the past three months.
Despite the positive stock performance, InvestingPro Tips highlight that SentinelOne is not currently profitable over the last twelve months. However, analysts predict the company will turn profitable this year, which could be a significant catalyst for the stock. The company's revenue growth remains strong, with a 38.04% increase in the last twelve months, indicating continued business expansion.
It's worth noting that SentinelOne holds more cash than debt on its balance sheet, and its liquid assets exceed short-term obligations. These factors contribute to the company's financial stability, which may be reassuring to investors in light of the CEO's recent share sale.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 10 more InvestingPro Tips available for SentinelOne, providing a deeper understanding of the company's financial health and market position.
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