Sailpoint Technologies Holdings Inc (NYSE:SAIL) Short Interest Up 62.4% in June

Sailpoint Technologies Holdings Inc (NYSE:SAIL) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 5,959,300 shares, an increase of 62.4% from the May 30th total of 3,669,300 shares. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is presently 4.0 days. Approximately 7.4% of the shares of the company are short sold.

A number of analysts recently weighed in on the stock. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Piper Jaffray Companies increased their price objective on shares of Beigene to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $26.00 target price (down previously from $27.00) on shares of Nlight in a research note on Thursday, May 9th. Summit Insights assumed coverage on shares of Sailpoint Technologies in a research note on Wednesday, April 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, TheStreet cut shares of Trade Desk from a “b-” rating to a “c-” rating in a research note on Thursday, May 9th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $28.93.

Sailpoint Technologies stock traded up $0.01 during trading hours on Friday, hitting $20.13. 13,398 shares of the company traded hands, compared to its average volume of 1,723,452. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 124.88 and a beta of 2.13. The firm’s 50-day moving average price is $18.88. Sailpoint Technologies has a 1-year low of $16.63 and a 1-year high of $34.60.

Sailpoint Technologies (NYSE:SAIL) last released its earnings results on Wednesday, May 8th. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The firm had revenue of $60.58 million for the quarter, compared to analysts’ expectations of $60.26 million. Sailpoint Technologies had a negative net margin of 2.14% and a positive return on equity of 3.26%. As a group, analysts anticipate that Sailpoint Technologies will post -0.07 EPS for the current fiscal year.

In related news, CRO Howard R. Greenfield sold 26,284 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $19.93, for a total value of $523,840.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Mcclain sold 33,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $28.08, for a total transaction of $926,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,284 shares of company stock worth $2,174,480. Corporate insiders own 4.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Optimum Investment Advisors boosted its holdings in shares of Sailpoint Technologies by 18.8% in the first quarter. Optimum Investment Advisors now owns 5,050 shares of the company’s stock worth $145,000 after buying an additional 800 shares during the period. Van Hulzen Asset Management LLC bought a new stake in Sailpoint Technologies in the 1st quarter valued at $225,000. AlphaCrest Capital Management LLC bought a new stake in Sailpoint Technologies in the 1st quarter valued at $287,000. Amalgamated Bank bought a new stake in Sailpoint Technologies in the 4th quarter valued at $240,000. Finally, Blueshift Asset Management LLC bought a new stake in Sailpoint Technologies in the 4th quarter valued at $257,000. 85.99% of the stock is currently owned by institutional investors.

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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