Shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.16 and last traded at $28.48, with a volume of 42641 shares traded. The stock had previously closed at $28.47.
Several analysts have recently issued reports on SAIL shares. Jefferies Financial Group reissued a “buy” rating and set a $28.00 price target on shares of Sailpoint Technologies in a research report on Thursday, April 19th. Zacks Investment Research cut shares of Sailpoint Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 24th. Needham & Company LLC increased their price target on shares of Sailpoint Technologies from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Finally, Piper Jaffray Companies started coverage on shares of Sailpoint Technologies in a research report on Wednesday, May 30th. They set an “overweight” rating and a $28.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.82.
The firm has a market cap of $2.48 billion and a price-to-earnings ratio of 701.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.14 and a current ratio of 2.14.
Sailpoint Technologies (NYSE:SAIL) last issued its earnings results on Wednesday, May 9th. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The firm had revenue of $49.70 million during the quarter, compared to analyst estimates of $44.60 million. The firm’s revenue for the quarter was up 40.0% compared to the same quarter last year. research analysts predict that Sailpoint Technologies Holdings Inc will post -0.15 earnings per share for the current fiscal year.
In related news, CAO Thomas Arthur Beck sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $22.42, for a total value of $112,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark D. Mcclain sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $22.42, for a total transaction of $739,860.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,924,816 shares of company stock worth $455,073,323.
Large investors have recently modified their holdings of the stock. Citigroup Inc. acquired a new stake in Sailpoint Technologies in the first quarter valued at approximately $158,000. C M Bidwell & Associates Ltd. acquired a new stake in Sailpoint Technologies during the first quarter worth approximately $182,000. Quadrature Capital Ltd acquired a new stake in Sailpoint Technologies during the first quarter worth approximately $237,000. American International Group Inc. acquired a new stake in Sailpoint Technologies during the first quarter worth approximately $267,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Sailpoint Technologies during the first quarter worth approximately $285,000. 25.28% of the stock is currently owned by hedge funds and other institutional investors.
About Sailpoint Technologies
SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.
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