Sailpoint Technologies Holdings Inc (NYSE:SAIL) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 5,959,300 shares, a growth of 62.4% from the May 30th total of 3,669,300 shares. Based on an average trading volume of 1,480,000 shares, the days-to-cover ratio is presently 4.0 days. Currently, 7.4% of the company’s stock are sold short.
Several research firms have recently weighed in on SAIL. Oppenheimer began coverage on shares of Alcon in a research report on Thursday, May 9th. They set an “outperform” rating and a $69.00 price objective for the company. BTIG Research cut their price objective on shares of Sailpoint Technologies from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. KeyCorp cut their price objective on shares of Sailpoint Technologies from $35.00 to $28.00 and set an “in-line” rating on the stock in a research report on Thursday, May 9th. Summit Insights started coverage on shares of Sailpoint Technologies in a research report on Wednesday, April 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, TheStreet lowered shares of Trade Desk from a “b-” rating to a “c-” rating in a research report on Thursday, May 9th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Sailpoint Technologies presently has an average rating of “Buy” and a consensus price target of $28.93.
In other Sailpoint Technologies news, Director William G. Bock sold 4,000 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $20.00, for a total transaction of $80,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark D. Mcclain sold 33,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $28.08, for a total transaction of $926,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 91,284 shares of company stock worth $2,174,480 over the last quarter. 4.10% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of Sailpoint Technologies by 3.9% during 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 acquiring an additional 790 shares in the last quarter. Optimum Investment Advisors increased its position in shares of Sailpoint Technologies by 18.8% in the first quarter. Optimum Investment Advisors now owns 5,050 shares of the company’s stock worth $145,000 after acquiring an additional 800 shares in the last quarter. Brinker Capital Inc. increased its position in shares of Sailpoint Technologies by 10.1% in the fourth quarter. Brinker Capital Inc. now owns 23,311 shares of the company’s stock worth $548,000 after acquiring an additional 2,129 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Sailpoint Technologies by 2.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 83,463 shares of the company’s stock worth $2,397,000 after acquiring an additional 2,390 shares in the last quarter. Finally, Emerald Advisers LLC increased its position in shares of Sailpoint Technologies by 0.5% in the first quarter. Emerald Advisers LLC now owns 564,155 shares of the company’s stock worth $16,203,000 after acquiring an additional 2,696 shares in the last quarter. 85.99% of the stock is owned by institutional investors.
Shares of NYSE:SAIL traded up $0.01 during mid-day trading on Friday, hitting $20.13. 13,398 shares of the company traded hands, compared to its average volume of 1,723,452. The stock has a market cap of $1.78 billion, a PE ratio of 124.88 and a beta of 2.13. Sailpoint Technologies has a 12-month low of $16.63 and a 12-month high of $34.60. The firm’s 50-day moving average price is $18.88.
Sailpoint Technologies (NYSE:SAIL) last announced its earnings results on Wednesday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The company had revenue of $60.58 million for the quarter, compared to analysts’ expectations of $60.26 million. Sailpoint Technologies had a positive return on equity of 3.26% and a negative net margin of 2.14%. On average, sell-side analysts predict that Sailpoint Technologies will post -0.07 earnings per share for the current year.
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.
Further Reading: Recession
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