Sailpoint Technologies Holdings Inc (NYSE:SAIL) has been given an average recommendation of “Buy” by the thirteen brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.33.
A number of analysts have weighed in on the company. Northland Securities assumed coverage on Sailpoint Technologies in a research note on Tuesday, September 11th. They issued a “market perform” rating and a $34.00 price target on the stock. Oppenheimer raised their price target on Sailpoint Technologies from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Citigroup raised their price target on Sailpoint Technologies from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Royal Bank of Canada restated a “buy” rating and issued a $33.00 price target on shares of Sailpoint Technologies in a research note on Friday, August 10th. Finally, Goldman Sachs Group assumed coverage on Sailpoint Technologies in a research note on Tuesday, August 21st. They issued a “neutral” rating and a $32.00 price target on the stock.
Sailpoint Technologies stock traded down $0.53 during midday trading on Thursday, reaching $32.66. The company’s stock had a trading volume of 774,876 shares, compared to its average volume of 1,746,934. Sailpoint Technologies has a fifty-two week low of $12.82 and a fifty-two week high of $33.63. 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 cap of $2.90 billion and a PE ratio of 816.50.
In other news, major shareholder Thoma Bravo, Llc sold 15,812,500 shares of Sailpoint Technologies stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $27.26, for a total transaction of $431,048,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 16,331,706 shares of company stock worth $445,637,819 in the last quarter.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Sailpoint Technologies by 87.4% during the second quarter. Bank of New York Mellon Corp now owns 215,373 shares of the company’s stock worth $5,285,000 after purchasing an additional 100,476 shares in the last quarter. Bain Capital Public Equity Management LLC acquired a new position in Sailpoint Technologies in the 2nd quarter valued at about $2,471,000. California Public Employees Retirement System acquired a new position in Sailpoint Technologies in the 2nd quarter valued at about $233,000. Millennium Management LLC increased its position in Sailpoint Technologies by 2.3% in the 2nd quarter. Millennium Management LLC now owns 176,609 shares of the company’s stock valued at $4,334,000 after acquiring an additional 3,971 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new position in Sailpoint Technologies in the 2nd quarter valued at about $39,530,000. Institutional investors and hedge funds own 50.62% of the company’s stock.
Sailpoint Technologies Company Profile
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.
Receive News & Ratings for Sailpoint Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sailpoint Technologies and related companies with MarketBeat.com's FREE daily email newsletter.