Verition Fund Management LLC cut its stake in shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 65.6% during the second quarter, Holdings Channel reports. The firm owned 8,314 shares of the company’s stock after selling 15,841 shares during the quarter. Verition Fund Management LLC’s holdings in Sailpoint Technologies were worth $220,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. PDT Partners LLC raised its position in shares of Sailpoint Technologies by 87.6% during the second quarter. PDT Partners LLC now owns 174,900 shares of the company’s stock worth $4,630,000 after purchasing an additional 81,657 shares during the period. Bank of America Corp DE grew its holdings in shares of Sailpoint Technologies by 7.1% during the second quarter. Bank of America Corp DE now owns 742,707 shares of the company’s stock valued at $19,659,000 after buying an additional 49,024 shares in the last quarter. Financial Advocates Investment Management purchased a new position in shares of Sailpoint Technologies during the second quarter valued at $239,000. Holocene Advisors LP grew its holdings in shares of Sailpoint Technologies by 2,667.3% during the second quarter. Holocene Advisors LP now owns 697,998 shares of the company’s stock valued at $18,476,000 after buying an additional 672,775 shares in the last quarter. Finally, Jefferies Group LLC purchased a new position in shares of Sailpoint Technologies during the second quarter valued at $1,730,000.

In related news, CEO Mark D. Mcclain sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $28.46, for a total value of $569,200.00. Following the transaction, the chief executive officer now owns 1,308,898 shares in the company, valued at $37,251,237.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Cameron Mcmartin sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $28.24, for a total transaction of $423,600.00. Following the completion of the transaction, the director now owns 91,197 shares in the company, valued at approximately $2,575,403.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,500 shares of company stock valued at $3,253,340. Company insiders own 3.40% of the company’s stock.

A number of brokerages have recently weighed in on SAIL. Loop Capital began coverage on Sailpoint Technologies in a report on Tuesday, September 8th. They set a “hold” rating and a $40.00 price target on the stock. Berenberg Bank initiated coverage on Sailpoint Technologies in a research note on Thursday, June 25th. They issued a “buy” rating on the stock. Morgan Stanley upped their price objective on Sailpoint Technologies from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Piper Sandler increased their price target on Sailpoint Technologies from $24.00 to $40.00 in a research report on Friday, August 7th. Finally, Goldman Sachs Group upgraded Sailpoint Technologies from a “sell” rating to a “buy” rating and increased their price target for the stock from $17.00 to $31.00 in a research report on Wednesday, July 1st. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.57.

Shares of SAIL opened at $38.18 on Wednesday. Sailpoint Technologies Holdings Inc has a one year low of $11.61 and a one year high of $41.29. The company has a market cap of $3.46 billion, a P/E ratio of 954.74 and a beta of 2.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a 50 day simple moving average of $36.36 and a two-hundred day simple moving average of $25.41.

Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.19. Sailpoint Technologies had a net margin of 1.12% and a return on equity of 5.02%. The business had revenue of $92.46 million during the quarter, compared to the consensus estimate of $69.02 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The company’s revenue was up 46.6% on a year-over-year basis. On average, analysts expect that Sailpoint Technologies Holdings Inc will post -0.1 earnings per share for the current fiscal 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.

Featured Story: How is inflation measured?

Want to see what other hedge funds are holding SAIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sailpoint Technologies Holdings Inc (NYSE:SAIL).

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

Receive News & Ratings for Sailpoint Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sailpoint Technologies and related companies with MarketBeat.com's FREE daily email newsletter.