Investors Buy Large Volume of Sailpoint Technologies Call Options (SAIL)

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Sailpoint Technologies Holdings Inc (NYSE:SAIL) was the target of some unusual options trading activity on Tuesday. Traders purchased 2,503 call options on the stock. This is an increase of 4,142% compared to the average volume of 59 call options.

NYSE:SAIL opened at $31.12 on Thursday. The stock has a market capitalization of $2.77 billion, a PE ratio of 778.00 and a beta of 1.78. Sailpoint Technologies has a twelve month low of $15.65 and a twelve month high of $34.60.

Several equities analysts have recently weighed in on SAIL shares. Zacks Investment Research raised shares of Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Wednesday, December 5th. Goldman Sachs Group raised shares of Sailpoint Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $33.00 in a research note on Monday, November 12th. Monness Crespi & Hardt started coverage on shares of Sailpoint Technologies in a research note on Wednesday, January 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Morgan Stanley set a $28.00 price target on shares of Sailpoint Technologies and gave the stock a “hold” rating in a research note on Friday, October 19th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $30.79.

In other Sailpoint Technologies news, CFO James Cameron Mcmartin sold 14,000 shares of the stock in a transaction on Monday, November 19th. The shares were sold at an average price of $24.82, for a total transaction of $347,480.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Howard R. Greenfield sold 7,981 shares of the stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $24.42, for a total transaction of $194,896.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,581 shares of company stock worth $4,758,518. Insiders own 4.70% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new position in Sailpoint Technologies during the fourth quarter worth about $68,000. Meeder Asset Management Inc. purchased a new position in Sailpoint Technologies during the fourth quarter worth about $88,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Sailpoint Technologies during the fourth quarter worth about $103,000. Harvest Fund Management Co. Ltd purchased a new position in Sailpoint Technologies during the third quarter worth about $106,000. Finally, Rehmann Capital Advisory Group purchased a new position in Sailpoint Technologies during the fourth quarter worth about $128,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

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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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