US Bancorp DE grew its stake in Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 20.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,517 shares of the company’s stock after purchasing an additional 2,624 shares during the period. US Bancorp DE’s holdings in Sailpoint Technologies were worth $311,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of Sailpoint Technologies by 6,395.4% during the second quarter. HighTower Advisors LLC now owns 481,436 shares of the company’s stock worth $9,648,000 after purchasing an additional 474,024 shares during the period. Northern Trust Corp boosted its holdings in shares of Sailpoint Technologies by 2.1% in the second quarter. Northern Trust Corp now owns 876,485 shares of the company’s stock valued at $17,565,000 after acquiring an additional 17,883 shares in the last quarter. Carlson Capital L P purchased a new stake in shares of Sailpoint Technologies in the second quarter valued at about $11,806,000. Bluestein R H & Co. boosted its holdings in shares of Sailpoint Technologies by 21.0% in the second quarter. Bluestein R H & Co. now owns 12,100 shares of the company’s stock valued at $242,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in shares of Sailpoint Technologies during the second quarter worth about $266,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
SAIL has been the subject of several analyst reports. Piper Jaffray Companies set a $27.00 price target on shares of Sailpoint Technologies and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated a “buy” rating on shares of Sailpoint Technologies in a research report on Thursday, August 8th. Zacks Investment Research cut Sailpoint Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Northland Securities restated a “hold” rating and issued a $23.00 price target on shares of Sailpoint Technologies in a research note on Wednesday, June 12th. Finally, ValuEngine raised Sailpoint Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.92.
Shares of NYSE:SAIL traded down $0.37 during midday trading on Tuesday, hitting $18.32. 37,852 shares of the stock were exchanged, compared to its average volume of 1,483,476. The stock has a market cap of $1.67 billion, a P/E ratio of 115.00 and a beta of 2.07. Sailpoint Technologies Holdings Inc has a twelve month low of $16.63 and a twelve month high of $34.57. The company has a 50 day moving average price of $21.55 and a 200-day moving average price of $22.54.
Sailpoint Technologies (NYSE:SAIL) last announced its earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. The business had revenue of $63.05 million for the quarter, compared to analyst estimates of $60.43 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Sailpoint Technologies Holdings Inc will post -0.09 earnings per share for the current year.
Sailpoint Technologies 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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