SentinelOne (NYSE:S) shares fell more than 7% on Wednesday even as the company announced that it was acquiring cybersecurity startup PingSafe in a cash and stock deal. SentinelOne said it expects the deal to close in the first-quarter of its 2025 fiscal year, subject to conditions. In a statement, the California-based cybersecurity firm said it expects PingSafe to help boost its cloud offerings. “With the addition of PingSafe, we intend to redefine cloud security by fusing best-of-breed cloud workload protection, AI and analytics capabilities with a modern and comprehensive CNAPP,” said SentinelOne Chief Product and Technology Officer Ric Smith in a statement. Last month, SentinelOne’s CFO David J. Bernhardt sold $1.35M worth of stock.