In a recent SEC filing, SentinelOne , Inc. (NYNYSE:SE:S), a cybersecurity company with a market capitalization of $7.6 billion, reported that Tomer Weingarten (NYSE:WRI), the company's President and CEO, sold 38,607 shares of Class A Common Stock on December 6, 2024. According to InvestingPro data, the stock has experienced a notable 10.45% decline over the past week. The shares were sold at a price of $25.04 each, amounting to a total transaction value of approximately $966,719. This sale was conducted to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units, as mandated by the company's equity incentive plan. Following this transaction, Weingarten retains ownership of 980,934 shares, some of which remain subject to forfeiture if certain vesting conditions are not met. InvestingPro analysis shows the company maintains strong revenue growth of 34.38% and has received positive sentiment from analysts, with 12 analysts recently revising earnings estimates upward. Discover more insights and detailed analysis in the comprehensive Pro Research Report, available with an InvestingPro subscription.
In other recent news, cybersecurity firm SentinelOne has been the focus of various financial firms' analyses. Despite mixed FQ3 results, Bernstein maintained an Outperform rating on SentinelOne's stock, although the price target was lowered to $30 from $32. The firm's revenue exceeded expectations by a margin of $1.1 million or 50 basis points compared to the guidance. The company also increased its full-year revenue forecast by $3 million and the implied guidance for fiscal fourth quarter 2025 by nearly $2 million.
Concurrently, SentinelOne maintained its Sector Weight rating according to KeyBanc, following a modest $3 million annual recurring revenue (ARR) beat and a slight guidance raise for its fiscal fourth quarter revenue. Scotiabank (TSX:BNS) increased the price target for SentinelOne to $26 from $25, keeping a Sector Perform rating, following the company's new ARR growth announcement in the third fiscal quarter.
In the tech sector, Piper Sandler analysts released insights revealing a strong outlook for IT spending, with Microsoft (NASDAQ:MSFT) expected to see heightened Azure spending. SentinelOne, among others, is likely to gain from the prioritization of cloud and data security. These are recent developments in the tech sector and for SentinelOne.
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