Verition Fund Management LLC Trims Position in Sailpoint Technologies Holdings Inc (NYSE:SAIL)

Verition Fund Management LLC cut its holdings in shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 65.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,314 shares of the company’s stock after selling 15,841 shares during the quarter. Verition Fund Management LLC’s holdings in Sailpoint Technologies were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Sailpoint Technologies by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 8,288,751 shares of the company’s stock worth $219,404,000 after buying an additional 103,057 shares during the last quarter. BlackRock Inc. raised its position in Sailpoint Technologies by 0.8% during the 1st quarter. BlackRock Inc. now owns 6,322,492 shares of the company’s stock worth $96,228,000 after buying an additional 48,139 shares during the last quarter. Jackson Square Partners LLC raised its position in Sailpoint Technologies by 1.3% during the 2nd quarter. Jackson Square Partners LLC now owns 4,395,799 shares of the company’s stock worth $116,356,000 after buying an additional 58,395 shares during the last quarter. Champlain Investment Partners LLC raised its position in Sailpoint Technologies by 10.1% during the 1st quarter. Champlain Investment Partners LLC now owns 3,991,155 shares of the company’s stock worth $60,745,000 after buying an additional 367,480 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its position in Sailpoint Technologies by 5.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 2,164,305 shares of the company’s stock worth $32,941,000 after buying an additional 112,875 shares during the last quarter.

A number of equities research analysts have recently commented on SAIL shares. DA Davidson raised their price objective on shares of Sailpoint Technologies from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Piper Sandler lifted their target price on shares of Sailpoint Technologies from $24.00 to $40.00 in a research note on Friday, August 7th. Goldman Sachs Group raised shares of Sailpoint Technologies from a “sell” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $31.00 in a research note on Wednesday, July 1st. Royal Bank of Canada lifted their target price on shares of Sailpoint Technologies from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, Morgan Stanley lifted their target price on shares of Sailpoint Technologies from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $34.57.

Shares of Sailpoint Technologies stock opened at $38.18 on Wednesday. Sailpoint Technologies Holdings Inc has a one year low of $11.61 and a one year high of $41.29. The company has a market cap of $3.46 billion, a PE ratio of 954.74 and a beta of 2.20. 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 business has a 50-day simple moving average of $36.36 and a 200-day simple moving average of $25.41.

Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.19. The business had revenue of $92.46 million during the quarter, compared to the consensus estimate of $69.02 million. Sailpoint Technologies had a return on equity of 5.02% and a net margin of 1.12%. The business’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, sell-side analysts predict that Sailpoint Technologies Holdings Inc will post -0.1 earnings per share for the current fiscal year.

In other Sailpoint Technologies news, Director William G. Bock sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $36.25, for a total value of $145,000.00. Following the completion of the sale, the director now owns 92,295 shares in the company, valued at $3,345,693.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Cameron Mcmartin sold 15,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $28.24, for a total value of $423,600.00. Following the completion of the transaction, the director now owns 91,197 shares of the company’s stock, valued at approximately $2,575,403.28. The disclosure for this sale can be found here. Insiders sold 98,500 shares of company stock valued at $3,253,340 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Sailpoint Technologies 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.

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

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