Needham & Company LLC initiated coverage on shares of Sailpoint Technologies (NYSE:SAIL) in a research note published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $21.00 target price on the stock.

Several other brokerages have also issued reports on SAIL. Jefferies Group started coverage on shares of Sailpoint Technologies in a research report on Tuesday, December 12th. They set a buy rating and a $18.00 target price for the company. Citigroup started coverage on shares of Sailpoint Technologies in a research report on Tuesday, December 12th. They set a buy rating and a $20.00 target price for the company. Royal Bank of Canada started coverage on shares of Sailpoint Technologies in a research report on Tuesday, December 12th. They set an outperform rating for the company. Oppenheimer started coverage on shares of Sailpoint Technologies in a research report on Tuesday, December 12th. They set a buy rating and a $20.00 target price for the company. Finally, KeyCorp started coverage on shares of Sailpoint Technologies in a research report on Tuesday, December 12th. They set an overweight rating and a $19.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $18.43.

Sailpoint Technologies (NYSE:SAIL) opened at $15.66 on Wednesday. Sailpoint Technologies has a twelve month low of $12.82 and a twelve month high of $17.75.

In other Sailpoint Technologies news, major shareholder Thoma Bravo, Llc sold 5,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $11.16, for a total value of $55,800,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark D. Mcclain sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $12.00, for a total transaction of $3,600,000.00. The disclosure for this sale can be found here. Insiders have sold 6,800,000 shares of company stock valued at $76,140,000 over the last 90 days.

Several institutional investors and hedge funds have recently bought and sold shares of SAIL. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Sailpoint Technologies in the fourth quarter worth approximately $22,033,000. BlackRock Inc. bought a new position in shares of Sailpoint Technologies in the fourth quarter worth approximately $8,664,000. Wells Fargo & Company MN bought a new position in shares of Sailpoint Technologies in the fourth quarter worth approximately $8,294,000. Citadel Advisors LLC bought a new position in shares of Sailpoint Technologies in the fourth quarter worth approximately $5,163,000. Finally, State of Wisconsin Investment Board bought a new position in shares of Sailpoint Technologies in the fourth quarter worth approximately $5,075,000. Institutional investors and hedge funds own 0.02% of the company’s stock.

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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.

Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

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