Friday, November 17, 2017

SailPoint Up In IPO Trading

Austin-based SailPoint was up over 14% in trading on Friday after its IPO on the New York Stock Exchange (NYSE), where it debuted this morning under the symbol SAIL. SailPoint, which priced its IPO Thursday night at $12.00 per share, raising $120M for the company, was up around $13.70 in afternoon trading on Friday. SailPoint had initially set its estimated IPO range at between $9.00 and $11.00 per share, indicating that demand for the company's IPO stock was higher than expected. SailPoint's IPO was underwritten by Morgan Stanley & Co., Citigroup Global Markets, Jefferies, RBC Capital Markets, along with Keybanc Capital Markets Inc., Canaccord Genuity Inc., and Oppenheimer & Co. The company is backed by private equity investor Thoma Bravo. SailPoint's software is used for enterprise, user identity management, for managing user authentication and logins.