5 Favorite Stocks of Dan Loeb’s Third Point

1. SentinelOne, Inc. (NYSE:S)

Third Point’s Stake Value: $1,348,713,000

Percentage of Third Point’s 13F Portfolio: 9.41%

Number of Hedge Fund Holders: 39

SentinelOne, Inc. (NYSE:S) is a California-based cybersecurity provider that protects businesses from ransomware and malware threats. Dan Loeb’s Third Point owns 26.7 million SentinelOne, Inc. (NYSE:S) shares, worth $1.3 billion, representing 9.41% of the hedge fund’s total 13F securities. It is the largest holding in Dan Loeb’s Q4 portfolio. 

On March 17, DA Davidson analyst Rudy Kessinger maintained a Buy recommendation on SentinelOne, Inc. (NYSE:S) but slashed the firm’s price target on the shares to $42 from $57, citing lower peer multiples. SentinelOne reported solid Q4 results, with ARR up 123% year-over-year and guided Q1 and FY23 revenue ahead of consensus. However, operating profit guidance was decidedly below forecasts owing to the company’s aggressive growth plans, the analyst told investors in a research note.

Among the hedge funds tracked by Insider Monkey, 39 funds were bullish on SentinelOne, Inc. (NYSE:S) in the fourth quarter, up from 35 funds in the prior quarter. Kevin Michael Ulrich and Anthony Davis’ Anchorage Advisors held a significant stake in the company, with 9.8 million shares worth $498 million. 

Here is what ClearBridge Investments SMID Cap Growth Strategy has to say about SentinelOne, Inc. (NYSE:S) in its Q4 2021 investor letter:

“We added six new positions in the fourth quarter. We see next-generation cybersecurity provider SentinelOne, although early in its growth lifecycle, as capable of taking share from legacy players in the antivirus and broader cybersecurity industry.”

You can also take a look at 10 Semiconductor Stocks to Buy Today According to Israel Englander’s Millennium Management and 10 Dividend Stocks to Buy According to Billionaire Jeffrey Talpins. 

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