Harvest Fund Management Co. Ltd purchased a new position in shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,124 shares of the company’s stock, valued at approximately $106,000.
Other large investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Sailpoint Technologies during the 2nd quarter worth $122,000. California Public Employees Retirement System acquired a new position in Sailpoint Technologies in the 2nd quarter valued at about $233,000. Sheets Smith Wealth Management acquired a new position in Sailpoint Technologies in the 2nd quarter valued at about $237,000. Teacher Retirement System of Texas acquired a new position in Sailpoint Technologies in the 2nd quarter valued at about $239,000. Finally, Radnor Capital Management LLC acquired a new position in Sailpoint Technologies in the 3rd quarter valued at about $242,000. 50.61% of the stock is owned by institutional investors and hedge funds.
SAIL opened at $25.72 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $2.25 billion and a price-to-earnings ratio of 643.00. Sailpoint Technologies Holdings Inc has a 12 month low of $12.82 and a 12 month high of $34.60.
Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. The business had revenue of $54.60 million during the quarter, compared to analysts’ expectations of $50.02 million. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, sell-side analysts forecast that Sailpoint Technologies Holdings Inc will post -0.08 EPS for the current fiscal year.
In other Sailpoint Technologies news, Director William G. Bock sold 8,000 shares of Sailpoint Technologies stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $29.44, for a total value of $235,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark D. Mcclain sold 33,000 shares of Sailpoint Technologies stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $27.04, for a total value of $892,320.00. The disclosure for this sale can be found here. Insiders sold a total of 16,376,500 shares of company stock valued at $447,729,850 in the last 90 days. 4.70% of the stock is owned by company insiders.
Several research analysts recently weighed in on SAIL shares. Zacks Investment Research raised shares of Sailpoint Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Canaccord Genuity boosted their target price on shares of Sailpoint Technologies from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, August 9th. KeyCorp boosted their target price on shares of Sailpoint Technologies from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Needham & Company LLC boosted their target price on shares of Sailpoint Technologies from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Finally, Citigroup boosted their target price on shares of Sailpoint Technologies from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $31.69.
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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