Sailpoint Technologies Target of Unusually Large Options Trading (SAIL)

Sailpoint Technologies Holdings Inc (NYSE:SAIL) was the target of some unusual options trading on Tuesday. Stock investors purchased 2,503 call options on the stock. This represents an increase of 4,142% compared to the typical volume of 59 call options.

SAIL has been the topic of a number of analyst reports. Zacks Investment Research upgraded Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Friday, November 16th. Goldman Sachs Group upgraded Sailpoint Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $32.00 to $33.00 in a research note on Monday, November 12th. Monness Crespi & Hardt initiated coverage on Sailpoint Technologies in a research note on Wednesday, January 2nd. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Morgan Stanley set a $28.00 price objective on Sailpoint Technologies and gave the stock a “hold” rating in a research note on Friday, October 19th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $30.79.

SAIL opened at $31.58 on Wednesday. Sailpoint Technologies has a 1-year low of $15.39 and a 1-year high of $34.60. The firm has a market capitalization of $2.69 billion, a P/E ratio of 789.50 and a beta of 1.78.

In other Sailpoint Technologies news, CAO Thomas Arthur Beck sold 41,600 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $28.12, for a total transaction of $1,169,792.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Howard R. Greenfield sold 7,981 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $24.42, for a total value of $194,896.02. The disclosure for this sale can be found here. Insiders sold a total of 219,581 shares of company stock valued at $5,741,738 over the last quarter. 4.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC bought a new stake in Sailpoint Technologies in the 3rd quarter valued at $1,247,000. Gilder Gagnon Howe & Co. LLC raised its stake in Sailpoint Technologies by 5.6% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 940,615 shares of the company’s stock valued at $32,000,000 after acquiring an additional 49,837 shares during the period. Vanguard Group Inc raised its stake in Sailpoint Technologies by 42.6% in the 3rd quarter. Vanguard Group Inc now owns 5,953,503 shares of the company’s stock valued at $202,538,000 after acquiring an additional 1,778,907 shares during the period. Renaissance Technologies LLC bought a new stake in Sailpoint Technologies in the 3rd quarter valued at $16,595,000. Finally, BlackRock Inc. raised its stake in Sailpoint Technologies by 41.5% in the 3rd quarter. BlackRock Inc. now owns 4,968,760 shares of the company’s stock valued at $169,037,000 after acquiring an additional 1,457,473 shares during the period. Institutional investors and hedge funds own 74.34% 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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