Investors Buy Large Volume of Sailpoint Technologies Call Options (SAIL)

Sailpoint Technologies Holdings Inc (NYSE:SAIL) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 2,503 call options on the stock. This is an increase of approximately 4,142% compared to the typical volume of 59 call options.

In related news, CFO James Cameron Mcmartin sold 14,000 shares of the stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $22.75, for a total transaction of $318,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Howard R. Greenfield sold 7,981 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $24.42, for a total transaction of $194,896.02. The disclosure for this sale can be found here. Insiders sold a total of 182,581 shares of company stock valued at $4,758,518 in the last ninety days. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of SAIL. Quantamental Technologies LLC acquired a new position in Sailpoint Technologies during the 4th quarter valued at approximately $68,000. Meeder Asset Management Inc. acquired a new stake in shares of Sailpoint Technologies in the fourth quarter worth $88,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Sailpoint Technologies in the fourth quarter worth $103,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Sailpoint Technologies in the third quarter worth $106,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Sailpoint Technologies in the fourth quarter worth $128,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

A number of research firms recently commented on SAIL. Morgan Stanley set a $28.00 target price on shares of Sailpoint Technologies and gave the company a “hold” rating in a research report on Friday, October 19th. Zacks Investment Research raised shares of Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Friday, November 16th. Goldman Sachs Group raised shares of Sailpoint Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $32.00 to $33.00 in a research report on Monday, November 12th. Finally, Monness Crespi & Hardt began coverage on shares of Sailpoint Technologies in a research report on Wednesday, January 2nd. They set a “buy” rating and a $30.00 target price for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.79.

Shares of Sailpoint Technologies stock opened at $31.12 on Thursday. Sailpoint Technologies has a 12-month low of $15.65 and a 12-month high of $34.60. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 778.00 and a beta of 1.78.

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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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