SailPoint Technologies Holdings, Inc.’s (SAIL) Quiet Period Will End on December 27th
SailPoint Technologies’ (NYSE:SAIL) quiet period is set to end on Wednesday, December 27th. SailPoint Technologies had issued 20,000,000 shares in its initial public offering on November 17th. The total size of the offering was $240,000,000 based on an initial share price of $12.00. During SailPoint Technologies’ quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of research analysts recently issued reports on SAIL shares. Oppenheimer started coverage on SailPoint Technologies in a report on Tuesday, December 12th. They issued a “buy” rating and a $20.00 target price for the company. Citigroup started coverage on SailPoint Technologies in a research note on Tuesday, December 12th. They issued a “buy” rating and a $20.00 price target on the stock. Jefferies Group started coverage on SailPoint Technologies in a research note on Tuesday, December 12th. They issued a “buy” rating and a $18.00 price target on the stock. Morgan Stanley started coverage on SailPoint Technologies in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $16.00 price target on the stock. Finally, Canaccord Genuity started coverage on SailPoint Technologies in a research note on Tuesday, December 12th. They issued a “hold” rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. SailPoint Technologies has an average rating of “Buy” and a consensus target price of $18.00.
Shares of SailPoint Technologies (SAIL) opened at $14.80 on Friday. SailPoint Technologies has a 52 week low of $12.82 and a 52 week high of $16.36.
In other news, Director James Michael Pflaging bought 3,500 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were acquired at an average price of $14.70 per share, for a total transaction of $51,450.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Thoma Bravo, Llc sold 5,000,000 shares of SailPoint Technologies stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $11.16, for a total value of $55,800,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,800,000 shares of company stock worth $76,140,000.
SailPoint Technologies Company Profile
SailPoint Technologies Holdings, Inc is a provider of enterprise identity governance solutions. The Company is focused on providing SailPoint that empowers customers to efficiently and securely govern the digital identities of employees, contractors, business partners and other users, and manage their constantly changing access rights to enterprise applications and data.
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