Stock Traders Purchase High Volume of Sailpoint Call Options (NYSE:SAIL)

Sailpoint Inc (NYSE:SAIL - Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors bought 3,893 call options on the stock. This represents an increase of approximately 854% compared to the average daily volume of 408 call options.

Sailpoint Price Performance

SAIL traded up $0.74 during midday trading on Thursday, hitting $23.27. The stock had a trading volume of 2,536,645 shares, compared to its average volume of 1,991,216. Sailpoint has a 1 year low of $15.05 and a 1 year high of $26.35. The company's fifty day moving average is $17.77.

Sailpoint (NYSE:SAIL - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($4.28). The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $229.69 million.

Institutional Trading of Sailpoint

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. purchased a new position in shares of Sailpoint in the 1st quarter valued at approximately $32,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Sailpoint during the first quarter valued at $49,000. Quarry LP purchased a new position in Sailpoint during the first quarter valued at $70,000. Picton Mahoney Asset Management purchased a new position in Sailpoint during the first quarter valued at $87,000. Finally, PNC Financial Services Group Inc. purchased a new position in Sailpoint during the first quarter valued at $150,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SAIL shares. JPMorgan Chase & Co. upped their price target on Sailpoint from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays upped their target price on shares of Sailpoint from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Thursday. TD Cowen started coverage on shares of Sailpoint in a research note on Monday, March 10th. They issued a "buy" rating and a $30.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Sailpoint in a research report on Monday, March 10th. They set a "neutral" rating and a $23.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Sailpoint from $27.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Sailpoint Company Profile

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.