Barclays Lowers SailPoint (NASDAQ:SAIL) Price Target to $20.00

SailPoint (NASDAQ:SAIL) had its price target dropped by analysts at Barclays from $23.00 to $20.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 28.84% from the company’s current price.

A number of other analysts have also commented on SAIL. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of SailPoint in a research note on Wednesday, February 11th. TD Cowen dropped their target price on shares of SailPoint from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. BTIG Research reduced their price target on shares of SailPoint from $29.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. FBN Securities initiated coverage on shares of SailPoint in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of SailPoint in a research note on Wednesday, December 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, SailPoint has a consensus rating of “Moderate Buy” and an average target price of $23.44.

SailPoint Trading Up 0.5%

Shares of SailPoint stock traded up $0.07 on Monday, reaching $15.52. 488,981 shares of the company were exchanged, compared to its average volume of 2,689,048. The stock has a fifty day moving average price of $16.27 and a 200-day moving average price of $19.32. The firm has a market capitalization of $8.72 billion and a price-to-earnings ratio of -3.24. SailPoint has a fifty-two week low of $12.81 and a fifty-two week high of $24.95.

Insider Buying and Selling at SailPoint

In related news, insider Abby Payne sold 3,582 shares of SailPoint stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $19.57, for a total transaction of $70,099.74. Following the completion of the sale, the insider owned 678,807 shares of the company’s stock, valued at approximately $13,284,252.99. This trade represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chandrasekar Gnanasambandam sold 4,245 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $19.57, for a total value of $83,074.65. Following the sale, the executive vice president directly owned 517,351 shares of the company’s stock, valued at $10,124,559.07. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 354,243 shares of company stock valued at $6,924,823 in the last quarter.

Institutional Trading of SailPoint

Large investors have recently made changes to their positions in the stock. Vident Advisory LLC boosted its position in SailPoint by 6.4% during the fourth quarter. Vident Advisory LLC now owns 55,823 shares of the company’s stock worth $1,129,000 after purchasing an additional 3,370 shares during the period. one8zero8 LLC lifted its stake in shares of SailPoint by 2.0% in the fourth quarter. one8zero8 LLC now owns 105,550 shares of the company’s stock worth $2,135,000 after buying an additional 2,050 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in SailPoint in the 4th quarter valued at $606,000. Balyasny Asset Management L.P. grew its stake in SailPoint by 126.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 535,475 shares of the company’s stock valued at $10,833,000 after buying an additional 299,356 shares during the last quarter. Finally, Freestone Grove Partners LP raised its holdings in SailPoint by 69.8% in the 4th quarter. Freestone Grove Partners LP now owns 500,000 shares of the company’s stock worth $10,115,000 after acquiring an additional 205,606 shares during the period.

About SailPoint

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.