Sailpoint Sees Unusually Large Options Volume (NYSE:SAIL)

Sailpoint Inc (NYSE:SAIL) saw unusually large options trading on Wednesday. Stock investors bought 3,893 call options on the company. This is an increase of approximately 854% compared to the average daily volume of 408 call options.

Institutional Trading of Sailpoint

Several institutional investors have recently bought and sold shares of SAIL. Stephens Investment Management Group LLC acquired a new stake in Sailpoint in the first quarter valued at approximately $23,213,000. Allianz Asset Management GmbH purchased a new stake in shares of Sailpoint during the first quarter worth about $3,496,000. GW&K Investment Management LLC purchased a new stake in shares of Sailpoint during the first quarter worth about $2,173,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Sailpoint during the first quarter worth about $1,683,000. Finally, Assetmark Inc. purchased a new stake in shares of Sailpoint during the first quarter worth about $32,000.

Sailpoint Price Performance

Shares of Sailpoint stock opened at $23.30 on Friday. The stock has a 50-day moving average price of $17.91. Sailpoint has a fifty-two week low of $15.05 and a fifty-two week high of $26.35.

Sailpoint (NYSE:SAIL) last issued its quarterly earnings data on Wednesday, March 26th. The company reported ($4.29) EPS for the quarter, missing the consensus estimate of ($0.01) by ($4.28). The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $229.69 million.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore ISI assumed coverage on Sailpoint in a research report on Monday, March 10th. They set an “outperform” rating and a $29.00 price target for the company. BMO Capital Markets upped their price objective on shares of Sailpoint from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley dropped their price objective on shares of Sailpoint from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. BTIG Research started coverage on shares of Sailpoint in a report on Monday, March 10th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Jefferies Financial Group dropped their price objective on shares of Sailpoint from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Sailpoint has a consensus rating of “Moderate Buy” and an average target price of $26.50.

About Sailpoint

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.