Mitsubishi UFJ Asset Management Reduces Stake in SentinelOne by 83.3%

Mitsubishi UFJ Asset Management Co. Ltd. has significantly reduced its holdings in SentinelOne, Inc. (NYSE: S), cutting its stake by an astonishing 83.3% during the second quarter of 2023. According to the company’s recent disclosure with the Securities and Exchange Commission (SEC), Mitsubishi UFJ now owns 24,683 shares of SentinelOne after selling 123,500 shares during the period. This reduction values the firm’s remaining holdings at approximately $451,000.

Several other institutional investors have also made notable changes to their positions in SentinelOne. Penserra Capital Management LLC increased its stake by 31.7%, now holding 4,450,644 shares, worth about $81.36 million after acquiring an additional 1,071,866 shares. Similarly, Savant Capital LLC boosted its investment by 247.2%, resulting in a total of 41,143 shares valued at $752,000 after purchasing 29,294 shares.

Malaga Cove Capital LLC also expanded its holdings by 20.6%, now owning 107,067 shares worth around $1.96 million. In a remarkable move, Andra AP fonden increased its stake by 501.0%, acquiring 284,629 shares, which are valued at $5.2 million following a purchase of 237,267 shares. Finally, Atlantic Union Bankshares Corp. entered the market with a new stake valued at approximately $29,000. Collectively, institutional investors now own 90.87% of SentinelOne’s stock.

Insider Transactions Signal Market Activity

In related news, CEO Tomer Weingarten sold 162,794 shares on September 11, 2023, at an average price of $18.38, totaling approximately $2.99 million. Following this transaction, Weingarten’s remaining shares amount to 1,298,982, valued at around $23.88 million, reflecting an 11.14% decrease in his position. This transaction was disclosed in filings with the SEC.

Another insider, Ric Smith, sold 24,515 shares on September 8, 2023. The shares were sold at an average price of $18.69, totaling about $458,185. Post-sale, Smith holds 951,541 shares valued at approximately $17.78 million, marking a 2.51% drop in his stake. In total, over the last three months, company insiders have sold 481,090 shares worth around $8.64 million, with insiders now owning 4.33% of the company’s stock.

SentinelOne’s Recent Performance and Outlook

SentinelOne’s stock opened at $16.79 on the most recent trading day, reflecting a market capitalization of $5.60 billion. The firm has a price-to-earnings (P/E) ratio of -12.72 and a beta of 0.76. Its 50-day moving average price stands at $17.62, while the 200-day moving average is at $18.02. Over the past year, SentinelOne’s stock has ranged from a low of $15.36 to a high of $29.29.

The company recently announced its quarterly earnings on August 28, 2023, reporting an earnings per share (EPS) of ($0.22), which fell short of analysts’ consensus estimate of $0.03 by ($0.25). Revenue for the quarter reached $242.18 million, slightly exceeding expectations of $242.17 million. SentinelOne’s net margin stands at -47.32%, and the return on equity is -16.24%. Compared to the same period last year, the company’s quarterly revenue has increased by 21.8%.

Looking ahead, SentinelOne has set its fiscal year 2026 guidance at an EPS target, while analysts forecast that the company will report an EPS of ($0.76) for the current fiscal year. As SentinelOne continues to navigate the competitive landscape of cybersecurity, its performance will be closely monitored by investors and analysts alike.