Wasatch Advisors LP Acquires New Position in SailPoint, Inc. $SAIL

Wasatch Advisors LP acquired a new position in shares of SailPoint, Inc. (NASDAQ:SAIL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,519,996 shares of the company’s stock, valued at approximately $66,173,000.

A number of other large investors have also recently bought and sold shares of SAIL. Handelsbanken Fonder AB boosted its stake in SailPoint by 13.9% in the second quarter. Handelsbanken Fonder AB now owns 18,000 shares of the company’s stock valued at $264,000 after acquiring an additional 2,200 shares during the period. Polianta Ltd acquired a new stake in shares of SailPoint during the 2nd quarter worth approximately $1,948,000. FNY Investment Advisers LLC raised its position in shares of SailPoint by 12.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the period. Bank of America Corp DE lifted its holdings in shares of SailPoint by 40.1% in the 1st quarter. Bank of America Corp DE now owns 1,764,870 shares of the company’s stock worth $23,367,000 after purchasing an additional 504,726 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of SailPoint by 178.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock worth $1,397,000 after purchasing an additional 67,601 shares during the last quarter.

Insider Buying and Selling

In other news, General Counsel Christopher Schmitt sold 23,940 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $389,982.60. Following the completion of the transaction, the general counsel owned 1,331,611 shares of the company’s stock, valued at approximately $21,691,943.19. This represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Abby Payne sold 21,542 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total value of $350,919.18. Following the transaction, the insider directly owned 908,964 shares in the company, valued at $14,807,023.56. This trade represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 497,832 shares of company stock valued at $7,934,851. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SAIL. Barclays lowered their price objective on SailPoint from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Wolfe Research reiterated an “outperform” rating and issued a $18.00 target price on shares of SailPoint in a research note on Wednesday, June 10th. DA Davidson assumed coverage on shares of SailPoint in a report on Monday, August 3rd. They set a “neutral” rating and a $17.00 price target for the company. Roth Capital started coverage on shares of SailPoint in a research report on Wednesday, May 20th. They set a “buy” rating and a $19.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of SailPoint from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SailPoint has an average rating of “Moderate Buy” and an average price target of $19.94.

SailPoint Trading Down 1.8%

Shares of NASDAQ SAIL opened at $19.06 on Wednesday. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $24.00. The company has a market cap of $10.81 billion, a PE ratio of -70.59, a P/E/G ratio of 2.16 and a beta of 2.08. The stock has a 50 day simple moving average of $15.43 and a 200-day simple moving average of $14.52.

SailPoint (NASDAQ:SAIL) last posted its earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $280.14 million for the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Sell-side analysts forecast that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

SailPoint Company Profile

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.