Sailpoint Technologies Sees Unusually Large Options Volume (SAIL)

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Sailpoint Technologies Holdings Inc (NYSE:SAIL) was the recipient of unusually large options trading activity on Thursday. Traders purchased 1,036 put options on the stock. This is an increase of 906% compared to the typical daily volume of 103 put options.

NYSE:SAIL opened at $26.22 on Friday. Sailpoint Technologies has a one year low of $12.82 and a one year high of $34.60. The firm has a market capitalization 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 quick ratio of 1.47 and a current ratio of 1.47.

Sailpoint Technologies (NYSE:SAIL) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.14. The company had revenue of $66.42 million during the quarter, compared to analyst estimates of $55.22 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Sailpoint Technologies’s revenue for the quarter was up 52.5% on a year-over-year basis. On average, analysts predict that Sailpoint Technologies will post -0.08 earnings per share for the current fiscal year.

Several research firms have issued reports on SAIL. Canaccord Genuity upped their price target on shares of Sailpoint Technologies from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, August 9th. Needham & Company LLC upped their price target on shares of Sailpoint Technologies from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Oppenheimer upped their price target on shares of Sailpoint Technologies from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Northland Securities began coverage on shares of Sailpoint Technologies in a research report on Tuesday, September 11th. They set a “market perform” rating and a $34.00 price target on the stock. Finally, KeyCorp upped their price target on shares of Sailpoint Technologies from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $31.69.

In other Sailpoint Technologies news, CEO Mark D. Mcclain sold 93,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 8,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $29.44, for a total transaction of $235,520.00. The disclosure for this sale can be found here. Insiders have sold 16,331,500 shares of company stock worth $446,379,400 over the last ninety days. Insiders own 4.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SAIL. Harvest Fund Management Co. Ltd acquired a new position in shares of Sailpoint Technologies in the third quarter valued at $106,000. Cubist Systematic Strategies LLC acquired a new position in shares of Sailpoint Technologies in the second quarter valued at about $122,000. Engineers Gate Manager LP acquired a new position in shares of Sailpoint Technologies in the third quarter valued at about $201,000. California Public Employees Retirement System acquired a new position in shares of Sailpoint Technologies in the second quarter valued at about $233,000. Finally, Sheets Smith Wealth Management acquired a new position in shares of Sailpoint Technologies in the second quarter valued at about $237,000. Hedge funds and other institutional investors own 51.77% of the company’s stock.

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About Sailpoint Technologies

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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