Sailpoint Technologies Holdings Inc (NYSE:SAIL) has been assigned a consensus recommendation of “Buy” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.71.
Several equities analysts have commented on the stock. Oppenheimer reissued a “buy” rating and set a $25.00 target price on shares of Sailpoint Technologies in a research report on Tuesday, August 11th. Canaccord Genuity lifted their price objective on shares of Sailpoint Technologies from $39.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Summit Insights reiterated a “buy” rating on shares of Sailpoint Technologies in a research note on Thursday, October 15th. DA Davidson lifted their price objective on shares of Sailpoint Technologies from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sailpoint Technologies in a research note on Monday, August 10th.
Shares of NYSE SAIL opened at $42.90 on Tuesday. Sailpoint Technologies has a fifty-two week low of $11.61 and a fifty-two week high of $48.13. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 1,072.77 and a beta of 2.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 3.59 and a current ratio of 3.59. The firm’s 50-day simple moving average is $42.03 and its 200 day simple moving average is $30.83.
In related news, Director Heidi M. Melin sold 3,400 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $44.50, for a total transaction of $151,300.00. Following the transaction, the director now owns 15,959 shares in the company, valued at $710,175.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark D. Mcclain sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $45.02, for a total transaction of $900,400.00. Following the transaction, the chief executive officer now owns 1,248,898 shares in the company, valued at approximately $56,225,387.96. The disclosure for this sale can be found here. Insiders have sold a total of 97,400 shares of company stock valued at $3,806,100 over the last 90 days. Company insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dupont Capital Management Corp bought a new position in Sailpoint Technologies in the third quarter worth approximately $245,000. Hanseatic Management Services Inc. purchased a new stake in shares of Sailpoint Technologies in the third quarter worth $387,000. Emerald Advisers LLC increased its stake in shares of Sailpoint Technologies by 43.7% in the third quarter. Emerald Advisers LLC now owns 708,271 shares of the company’s stock worth $28,026,000 after purchasing an additional 215,365 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in shares of Sailpoint Technologies by 62.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 653,848 shares of the company’s stock worth $25,873,000 after purchasing an additional 250,166 shares in the last quarter. Finally, Davy Global Fund Management Ltd increased its stake in shares of Sailpoint Technologies by 110.7% in the third quarter. Davy Global Fund Management Ltd now owns 31,232 shares of the company’s stock worth $1,236,000 after purchasing an additional 16,411 shares in the last quarter.
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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