Sarasin & Partners LLP lowered its holdings in shares of SailPoint Technologies Holdings, Inc. (NYSE:SAIL) by 76.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,066 shares of the company’s stock after selling 255,057 shares during the period. Sarasin & Partners LLP owned about 0.08% of SailPoint Technologies worth $3,050,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of SAIL. Advisor Group Holdings Inc. purchased a new stake in shares of SailPoint Technologies in the first quarter worth approximately $31,000. Signaturefd LLC raised its stake in shares of SailPoint Technologies by 788.9% in the third quarter. Signaturefd LLC now owns 1,200 shares of the company’s stock worth $47,000 after purchasing an additional 1,065 shares during the last quarter. Cutler Group LP purchased a new stake in shares of SailPoint Technologies in the second quarter worth approximately $52,000. Watson Rebecca purchased a new stake in shares of SailPoint Technologies in the second quarter worth approximately $53,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of SailPoint Technologies in the third quarter worth approximately $83,000.
Shares of SailPoint Technologies stock traded down $0.02 during trading hours on Tuesday, reaching $42.54. The company had a trading volume of 6,907 shares, compared to its average volume of 1,431,066. SailPoint Technologies Holdings, Inc. has a one year low of $11.61 and a one year high of $49.84. The business has a fifty day simple moving average of $44.16 and a 200 day simple moving average of $33.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market cap of $3.87 billion, a PE ratio of 1,064.27 and a beta of 2.17.
SailPoint Technologies (NYSE:SAIL) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.16. SailPoint Technologies had a return on equity of 5.02% and a net margin of 1.12%. The firm had revenue of $94.01 million during the quarter, compared to analyst estimates of $83.51 million. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts forecast that SailPoint Technologies Holdings, Inc. will post -0.1 EPS for the current year.
In related news, Director James Cameron Mcmartin sold 15,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $37.65, for a total value of $564,750.00. Following the completion of the transaction, the director now owns 67,732 shares of the company’s stock, valued at approximately $2,550,109.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William G. Bock sold 4,000 shares of the stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $42.51, for a total transaction of $170,040.00. Following the completion of the transaction, the director now directly owns 88,295 shares of the company’s stock, valued at approximately $3,753,420.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,400 shares of company stock valued at $2,553,090. 3.40% of the stock is owned by insiders.
Several brokerages have recently commented on SAIL. Summit Insights reissued a “buy” rating on shares of SailPoint Technologies in a research note on Thursday, October 15th. Wedbush increased their price target on SailPoint Technologies from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Truist increased their price target on SailPoint Technologies from $42.00 to $55.00 in a research report on Friday, November 6th. DA Davidson increased their price target on SailPoint Technologies from $24.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Canaccord Genuity increased their price target on SailPoint Technologies from $39.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.83.
SailPoint Technologies Profile
SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in the United States, Europe, the Middle East, Africa, and internationally. The company offers software and software as a service solutions, which help organizations to govern the digital identities of employees, contractors, business partners, software bots, and other human and non-human users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments, spanning on-premises, cloud and mobile applications, and file storage platforms.
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