Sailpoint Technologies Holdings Inc (NYSE:SAIL) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 5,766,500 shares, a decline of 24.8% from the July 31st total of 7,669,400 shares. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is presently 3.9 days. Approximately 6.9% of the company’s stock are sold short.

NYSE:SAIL traded down $0.33 during trading hours on Friday, hitting $21.26. 785,800 shares of the company were exchanged, compared to its average volume of 1,232,848. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 132.88 and a beta of 2.08. Sailpoint Technologies has a 52-week low of $16.63 and a 52-week high of $34.60. The company’s 50 day moving average price is $22.00 and its 200-day moving average price is $23.32.

Sailpoint Technologies (NYSE:SAIL) last released its earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $63.05 million for the quarter, compared to analysts’ expectations of $60.43 million. Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities research analysts predict that Sailpoint Technologies will post -0.1 EPS for the current year.

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Sailpoint Technologies in a research report on Thursday, August 8th. Piper Jaffray Companies set a $27.00 price objective on shares of Sailpoint Technologies and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded shares of Sailpoint Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Rosenblatt Securities assumed coverage on shares of Sailpoint Technologies in a research report on Monday. They issued a “neutral” rating and a $23.00 price objective on the stock. Finally, Northland Securities reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Sailpoint Technologies in a research report on Wednesday, June 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Sailpoint Technologies has an average rating of “Buy” and a consensus target price of $26.92.

In other news, CRO Howard R. Greenfield sold 26,284 shares of Sailpoint Technologies stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $19.93, for a total value of $523,840.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William G. Bock sold 4,000 shares of Sailpoint Technologies stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $20.00, for a total transaction of $80,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,444 shares of company stock valued at $2,686,187. Company insiders own 4.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SAIL. HM Payson & Co. acquired a new stake in Sailpoint Technologies during the 2nd quarter valued at approximately $25,000. Manchester Financial Inc. acquired a new stake in Sailpoint Technologies during the 2nd quarter valued at approximately $27,000. Aperio Group LLC acquired a new stake in Sailpoint Technologies during the 2nd quarter valued at approximately $41,000. Optimum Investment Advisors lifted 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 valued at $119,000 after acquiring an additional 900 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in Sailpoint Technologies by 41.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,276 shares of the company’s stock valued at $146,000 after acquiring an additional 2,143 shares during the period. 97.48% of the stock is currently owned by institutional investors.

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.

See Also: What does a neutral rating on stocks mean?

Receive News & Ratings for Sailpoint Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sailpoint Technologies and related companies with MarketBeat.com's FREE daily email newsletter.