Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Sailpoint Technologies Holdings Inc (NYSE:SAIL)
Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 41.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,292 shares of the company’s stock after selling 8,873 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sailpoint Technologies were worth $246,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in SAIL. TimesSquare Capital Management LLC purchased a new stake in Sailpoint Technologies in the 1st quarter worth $26,396,000. Sarasin & Partners LLP purchased a new stake in Sailpoint Technologies in the 2nd quarter worth $4,669,000. Bridgecreek Investment Management LLC purchased a new stake in Sailpoint Technologies in the 1st quarter worth $4,357,000. Wells Fargo & Company MN lifted its stake in Sailpoint Technologies by 7.5% in the 1st quarter. Wells Fargo & Company MN now owns 1,867,557 shares of the company’s stock worth $53,635,000 after purchasing an additional 129,567 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Sailpoint Technologies by 19.5% in the 4th quarter. Geode Capital Management LLC now owns 698,327 shares of the company’s stock worth $16,403,000 after buying an additional 114,063 shares during the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
A number of analysts have recently weighed in on the stock. TheStreet downgraded shares of Sailpoint Technologies from a “c-” rating to a “d+” rating in a report on Thursday, May 9th. Zacks Investment Research downgraded shares of Sailpoint Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. KeyCorp reduced their target price on shares of Sailpoint Technologies from $35.00 to $28.00 and set an “in-line” rating on the stock in a report on Thursday, May 9th. ValuEngine upgraded shares of Sailpoint Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Monness Crespi & Hardt downgraded shares of Sailpoint Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, May 9th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.25.
Shares of Sailpoint Technologies stock traded up $0.01 during trading hours on Tuesday, reaching $21.91. The company’s stock had a trading volume of 17,555 shares, compared to its average volume of 1,649,289. The stock has a market cap of $1.95 billion, a P/E ratio of 136.31 and a beta of 2.13. Sailpoint Technologies Holdings Inc has a one year low of $16.63 and a one year high of $34.60. The firm has a 50 day moving average price of $21.05 and a 200-day moving average price of $24.31.
Sailpoint Technologies (NYSE:SAIL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $63.05 million for the quarter, compared to the consensus estimate of $60.43 million. Sailpoint Technologies had a negative net margin of 3.39% and a positive return on equity of 1.99%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. Research analysts anticipate that Sailpoint Technologies Holdings Inc will post -0.1 earnings per share for the current fiscal year.
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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