Picton Mahoney Asset Management Trims Stock Holdings in Sailpoint Technologies Holdings Inc (NYSE:SAIL)

Picton Mahoney Asset Management lowered its holdings in Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 80.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,200 shares of the company’s stock after selling 298,400 shares during the period. Picton Mahoney Asset Management owned about 0.08% of Sailpoint Technologies worth $1,467,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SAIL. TimesSquare Capital Management LLC lifted its holdings in Sailpoint Technologies by 105.5% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,888,970 shares of the company’s stock worth $37,855,000 after buying an additional 969,885 shares during the last quarter. First Trust Advisors LP lifted its holdings in Sailpoint Technologies by 79.5% during the 2nd quarter. First Trust Advisors LP now owns 1,224,875 shares of the company’s stock worth $24,546,000 after buying an additional 542,470 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Sailpoint Technologies by 20.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,012,523 shares of the company’s stock worth $60,371,000 after buying an additional 507,503 shares during the last quarter. Sarasin & Partners LLP bought a new position in Sailpoint Technologies during the 2nd quarter worth approximately $4,669,000. Finally, Bridgecreek Investment Management LLC bought a new position in Sailpoint Technologies during the 1st quarter worth approximately $4,357,000. 84.86% of the stock is currently owned by institutional investors.

In related news, CRO Howard R. Greenfield sold 1,910 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $20.15, for a total value of $38,486.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Howard R. Greenfield sold 26,284 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $19.93, for a total value of $523,840.12. The disclosure for this sale can be found here. In the last three months, insiders sold 123,444 shares of company stock worth $2,601,347. Company insiders own 4.10% of the company’s stock.

Shares of NYSE SAIL traded down $0.60 during mid-day trading on Friday, hitting $22.03. The company had a trading volume of 844,457 shares, compared to its average volume of 1,515,532. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 251.44 and a beta of 2.13. Sailpoint Technologies Holdings Inc has a 12 month low of $16.63 and a 12 month high of $34.60. The firm’s 50 day simple moving average is $21.22 and its two-hundred day simple moving average is $24.17.

Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $63.05 million during the quarter, compared to the consensus estimate of $60.43 million. Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. Equities analysts anticipate that Sailpoint Technologies Holdings Inc will post -0.1 earnings per share for the current year.

SAIL has been the topic of a number of research analyst reports. Oppenheimer reduced their target price on Sailpoint Technologies from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Northland Securities reaffirmed a “hold” rating and set a $23.00 target price on shares of Sailpoint Technologies in a report on Wednesday, June 12th. Canaccord Genuity reaffirmed a “hold” rating and set a $20.00 target price (down previously from $29.00) on shares of Sailpoint Technologies in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price (down previously from $30.00) on shares of Sailpoint Technologies in a report on Thursday, May 9th. Finally, BTIG Research reduced their target price on Sailpoint Technologies from $27.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Sailpoint Technologies has an average rating of “Buy” and an average price target of $27.25.

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

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