Fortress Investment Group LLC Purchases 250,000 Shares of SailPoint, Inc. $SAIL

Fortress Investment Group LLC raised its holdings in shares of SailPoint, Inc. (NASDAQ:SAIL) by 50.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 750,000 shares of the company’s stock after acquiring an additional 250,000 shares during the quarter. SailPoint makes up approximately 2.2% of Fortress Investment Group LLC’s holdings, making the stock its 14th biggest position. Fortress Investment Group LLC owned approximately 0.13% of SailPoint worth $16,560,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SAIL. Norges Bank bought a new stake in shares of SailPoint in the 2nd quarter valued at about $112,297,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in SailPoint in the second quarter valued at about $64,453,000. UBS Group AG lifted its holdings in shares of SailPoint by 116.3% during the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after acquiring an additional 2,219,593 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of SailPoint in the 3rd quarter valued at $26,365,000. Finally, NZS Capital LLC increased its stake in shares of SailPoint by 186.6% in the 3rd quarter. NZS Capital LLC now owns 1,747,161 shares of the company’s stock valued at $38,577,000 after purchasing an additional 1,137,643 shares during the last quarter.

SailPoint Trading Down 0.2%

Shares of NASDAQ SAIL opened at $15.45 on Monday. The firm has a market capitalization of $8.68 billion and a P/E ratio of -3.23. The firm’s 50-day moving average price is $16.27 and its 200-day moving average price is $19.32. SailPoint, Inc. has a 1-year low of $12.81 and a 1-year high of $24.95.

Insider Transactions at SailPoint

In other news, President Matt Mills sold 21,345 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total transaction of $410,464.35. Following the completion of the sale, the president owned 1,882,913 shares in the company, valued at $36,208,416.99. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark D. Mcclain sold 61,106 shares of SailPoint stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total transaction of $1,175,068.38. Following the completion of the sale, the chief executive officer directly owned 7,139,202 shares of the company’s stock, valued at approximately $137,286,854.46. The trade was a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 354,243 shares of company stock valued at $6,924,823 in the last 90 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays dropped their price target on SailPoint from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, December 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of SailPoint in a research report on Wednesday, February 11th. TD Cowen dropped their price objective on SailPoint from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Truist Financial cut their target price on SailPoint from $29.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company initiated coverage on SailPoint in a research note on Tuesday, March 3rd. They set an “overweight” rating and a $17.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.59.

About SailPoint

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.