Jupiter Asset Management Ltd. Cuts Holdings in SailPoint Technologies Holdings, Inc. (NYSE:SAIL)

Jupiter Asset Management Ltd. cut its position in shares of SailPoint Technologies Holdings, Inc. (NYSE:SAIL) by 64.4% during the 3rd quarter, Holdings Channel reports. The firm owned 67,900 shares of the company’s stock after selling 122,670 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in SailPoint Technologies were worth $2,912,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in SailPoint Technologies in the second quarter worth about $31,000. First Horizon Advisors Inc. raised its position in SailPoint Technologies by 912.3% in the third quarter. First Horizon Advisors Inc. now owns 658 shares of the company’s stock worth $33,000 after acquiring an additional 593 shares during the period. Harbor Investment Advisory LLC raised its position in SailPoint Technologies by 98.0% in the third quarter. Harbor Investment Advisory LLC now owns 2,915 shares of the company’s stock worth $125,000 after acquiring an additional 1,443 shares during the period. PNC Financial Services Group Inc. raised its position in SailPoint Technologies by 18.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,086 shares of the company’s stock worth $132,000 after acquiring an additional 490 shares during the period. Finally, SRS Capital Advisors Inc. bought a new stake in SailPoint Technologies in the third quarter worth about $134,000.

SailPoint Technologies stock opened at $42.48 on Friday. SailPoint Technologies Holdings, Inc. has a 1-year low of $39.00 and a 1-year high of $64.19. The firm has a market capitalization of $3.96 billion, a PE ratio of -69.64 and a beta of 1.79. The firm’s 50 day simple moving average is $49.61 and its 200 day simple moving average is $48.13.

SailPoint Technologies (NYSE:SAIL) last released its quarterly earnings results on Tuesday, November 9th. The company reported ($0.12) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.12). SailPoint Technologies had a negative net margin of 13.93% and a negative return on equity of 7.29%. The business had revenue of $110.11 million during the quarter, compared to analysts’ expectations of $103.45 million. During the same quarter in the previous year, the company earned $0.02 EPS. As a group, research analysts anticipate that SailPoint Technologies Holdings, Inc. will post -0.4 earnings per share for the current year.

In other news, CAO Eric Domagalski sold 1,192 shares of the company’s stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $53.23, for a total value of $63,450.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tracey Newell sold 1,750 shares of the company’s stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $52.48, for a total transaction of $91,840.00. The disclosure for this sale can be found here. Insiders sold a total of 46,563 shares of company stock valued at $2,264,365 in the last ninety days. 2.40% of the stock is owned by corporate insiders.

Several brokerages have commented on SAIL. Jefferies Financial Group lifted their price objective on shares of SailPoint Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, January 6th. Royal Bank of Canada lifted their price objective on shares of SailPoint Technologies from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 10th. Wells Fargo & Company boosted their price target on shares of SailPoint Technologies from $54.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, November 10th. boosted their price target on shares of SailPoint Technologies from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 10th. Finally, Piper Sandler lowered their price target on shares of SailPoint Technologies from $70.00 to $55.00 in a research report on Thursday, January 6th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, SailPoint Technologies currently has a consensus rating of “Buy” and a consensus price target of $66.46.

About SailPoint Technologies

SailPoint Technologies Holdings, Inc engages in the provision of enterprise identity governance solutions. It operates through the following geographical segments: United States; EMAE or Europe, the Middle East, and Africa; and Rest of the World. It also offers licensing of software, sale of professional services, maintenance, and technical support.

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

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