Morgan Stanley Trims Holdings in Sailpoint Technologies Holdings Inc (NYSE:SAIL)

Morgan Stanley trimmed its stake in Sailpoint Technologies Holdings Inc (NYSE:SAIL) by 87.9% during the second quarter, Holdings Channel.com reports. The fund owned 49,629 shares of the company’s stock after selling 362,200 shares during the period. Morgan Stanley’s holdings in Sailpoint Technologies were worth $995,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SAIL. Manchester Financial Inc. purchased a new stake in shares of Sailpoint Technologies in the 2nd quarter valued at approximately $27,000. Aperio Group LLC purchased a new stake in Sailpoint Technologies during the 2nd quarter worth approximately $41,000. Optimum Investment Advisors increased its stake in Sailpoint Technologies by 17.8% during the 2nd quarter. Optimum Investment Advisors now owns 5,950 shares of the company’s stock worth $119,000 after buying an additional 900 shares during the period. Bank of Montreal Can purchased a new stake in Sailpoint Technologies during the 2nd quarter worth approximately $146,000. Finally, SG Americas Securities LLC increased its stake in Sailpoint Technologies by 93.3% during the 2nd quarter. SG Americas Securities LLC now owns 7,850 shares of the company’s stock worth $157,000 after buying an additional 3,790 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

NYSE SAIL opened at $20.14 on Thursday. Sailpoint Technologies Holdings Inc has a 52 week low of $16.63 and a 52 week high of $32.25. The stock has a market capitalization of $1.78 billion, a PE ratio of 125.88 and a beta of 2.01. The firm has a 50 day moving average of $19.20 and a two-hundred day moving average of $20.78.

Sailpoint Technologies (NYSE:SAIL) last posted 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). Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. The firm had revenue of $63.05 million for the quarter, compared to analyst estimates of $60.43 million. During the same quarter last year, the firm earned $0.03 EPS. The company’s revenue was up 17.5% on a year-over-year basis. Sell-side analysts predict that Sailpoint Technologies Holdings Inc will post -0.09 earnings per share for the current year.

In other Sailpoint Technologies news, COO James Cameron Mcmartin sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $18.52, for a total transaction of $1,111,200.00. Also, CEO Mark D. Mcclain sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $20.09, for a total transaction of $301,350.00. Insiders have sold a total of 256,000 shares of company stock valued at $5,075,760 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on SAIL. Royal Bank of Canada reaffirmed a “buy” rating on shares of Sailpoint Technologies in a research note on Thursday, August 8th. Rosenblatt Securities reaffirmed a “hold” rating and set a $23.00 target price on shares of Sailpoint Technologies in a research note on Thursday. Zacks Investment Research downgraded shares of Sailpoint Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Piper Jaffray Companies set a $27.00 target price on shares of Sailpoint Technologies and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Canaccord Genuity cut their target price on shares of Sailpoint Technologies from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $26.46.

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

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