Point72 Asset Management L.P. Boosts Stock Position in Sailpoint Technologies Holdings Inc (NYSE:SAIL)

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Point72 Asset Management L.P. raised its position in shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 28.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,022,300 shares of the company’s stock after purchasing an additional 444,984 shares during the quarter. Point72 Asset Management L.P. owned 2.27% of Sailpoint Technologies worth $40,527,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SAIL. Geode Capital Management LLC grew its stake in Sailpoint Technologies by 19.5% during the 4th quarter. Geode Capital Management LLC now owns 698,327 shares of the company’s stock valued at $16,403,000 after purchasing an additional 114,063 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Sailpoint Technologies by 3.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,909 shares of the company’s stock worth $601,000 after purchasing an additional 790 shares during the period. New York State Common Retirement Fund raised its holdings in Sailpoint Technologies by 15.2% in the 1st quarter. New York State Common Retirement Fund now owns 79,805 shares of the company’s stock worth $2,292,000 after purchasing an additional 10,543 shares during the period. Riverstone Advisors LLC acquired a new position in Sailpoint Technologies in the 1st quarter worth about $1,590,000. Finally, Timpani Capital Management LLC acquired a new position in Sailpoint Technologies in the 1st quarter worth about $1,087,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Shares of NYSE SAIL traded down $0.07 during midday trading on Friday, reaching $20.60. 4,698,244 shares of the company were exchanged, compared to its average volume of 747,902. Sailpoint Technologies Holdings Inc has a 1 year low of $16.63 and a 1 year high of $34.60. The stock has a fifty day simple moving average of $21.91 and a 200 day simple moving average of $22.98. The stock has a market cap of $1.93 billion, a P/E ratio of 240.67 and a beta of 2.08.

Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The business had revenue of $63.05 million during the quarter, compared to analysts’ expectations of $60.43 million. Sailpoint Technologies had a negative net margin of 3.39% and a positive return on equity of 1.99%. Sailpoint Technologies’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities research analysts predict that Sailpoint Technologies Holdings Inc will post -0.1 earnings per share for the current year.

In related news, CRO Howard R. Greenfield sold 26,284 shares of Sailpoint Technologies stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $19.93, for a total transaction of $523,840.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Howard R. Greenfield sold 1,910 shares of Sailpoint Technologies stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $20.15, for a total value of $38,486.50. The disclosure for this sale can be found here. Insiders have sold a total of 179,444 shares of company stock worth $3,767,627 in the last three months. Corporate insiders own 4.10% of the company’s stock.

A number of equities analysts have commented on SAIL shares. Northland Securities reissued a “hold” rating and set a $23.00 target price on shares of Sailpoint Technologies in a report on Wednesday, June 12th. Zacks Investment Research cut Sailpoint Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. ValuEngine raised Sailpoint Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Rosenblatt Securities assumed coverage on Sailpoint Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Sailpoint Technologies in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Sailpoint Technologies has an average rating of “Buy” and a consensus price target of $26.92.

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.

Further Reading: How analysts view the yield curve

Institutional Ownership by Quarter for Sailpoint Technologies (NYSE:SAIL)

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