5 Tech Stocks to Sell in 2022 According to Billionaire Stanley Druckenmiller

1. SentinelOne, Inc. (NYSE:S)

Number of Hedge Fund Holders: 39

SentinelOne, Inc. (NYSE:S) is a cybersecurity provider in the United States and internationally. The company leverages cloud computing and IoT to carry out its security protocols. Stanley Druckenmiller first invested in SentinelOne, Inc. (NYSE:S) in Q2 2021, purchasing 100,000 shares of the company, worth $4.25 million. In the fourth quarter, the billionaire’s fund held 60,000 shares of SentinelOne, Inc. (NYSE:S), which were sold off completely in Q1 2022. 

On May 16, Wells Fargo analyst Andrew Nowinski lowered the price target on SentinelOne, Inc. (NYSE:S) to $30 from $38 and maintained an Overweight rating on the shares. The analyst adjusted the price targets for multiple off-calendar security software vendors in view of his Q1 resellers survey. He noted that valuations across the software space have pulled back significantly due to the broader market correction.

Among the hedge funds tracked by Insider Monkey, 39 funds reported owning bullish stakes in SentinelOne, Inc. (NYSE:S) at the end of Q4 2021, up from 35 funds in the preceding quarter. Billionaire Dan Loeb’s Third Point held a notable stake in SentinelOne, Inc. (NYSE:S) at the conclusion of the first quarter of 2022, with 26.30 million shares worth over $1 billion.  

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 peek at 10 Biotech Stocks to Buy Today According to Ken Fisher’s Fisher Asset Management and 10 Stocks to Buy Now According to Steve Ketchum’s Sound Point Capital. 

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