Northern Trust Corp increased its position in shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 126.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 486,162 shares of the company’s stock after acquiring an additional 271,397 shares during the period. Northern Trust Corp owned approximately 0.55% of Sailpoint Technologies worth $11,930,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in Sailpoint Technologies in the 2nd quarter worth approximately $122,000. California Public Employees Retirement System purchased a new position in Sailpoint Technologies in the 2nd quarter worth approximately $233,000. Sheets Smith Wealth Management purchased a new position in Sailpoint Technologies in the 2nd quarter worth approximately $237,000. Teacher Retirement System of Texas purchased a new position in Sailpoint Technologies in the 2nd quarter worth approximately $239,000. Finally, Financial Advocates Investment Management purchased a new position in Sailpoint Technologies in the 2nd quarter worth approximately $245,000. 51.77% of the stock is currently owned by institutional investors and hedge funds.
SAIL has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on shares of Sailpoint Technologies in a research note on Tuesday, August 21st. They issued a “neutral” rating and a $32.00 price objective for the company. Morgan Stanley set a $28.00 price objective on shares of Sailpoint Technologies and gave the company a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research cut shares of Sailpoint Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Northland Securities initiated coverage on shares of Sailpoint Technologies in a research note on Tuesday, September 11th. They issued a “market perform” rating and a $34.00 price objective for the company. Finally, Oppenheimer upped their price objective on shares of Sailpoint Technologies from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Sailpoint Technologies has a consensus rating of “Buy” and a consensus target price of $31.69.
Shares of SAIL opened at $26.22 on Friday. The firm has a market cap of $2.22 billion and a price-to-earnings ratio of 655.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.47 and a quick ratio of 1.47. Sailpoint Technologies Holdings Inc has a twelve month low of $12.82 and a twelve month high of $34.60.
Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.14. The firm had revenue of $66.42 million for the quarter, compared to analysts’ expectations of $55.22 million. The company’s quarterly revenue was up 52.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. As a group, equities research analysts forecast that Sailpoint Technologies Holdings Inc will post -0.08 EPS for the current fiscal year.
In other Sailpoint Technologies news, CEO Mark D. Mcclain sold 93,000 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $28.31, for a total transaction of $2,632,830.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Howard R. Greenfield sold 100,000 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $29.15, for a total transaction of $2,915,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,331,500 shares of company stock valued at $446,379,400 in the last three months. 4.70% of the stock is currently owned by corporate insiders.
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.
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