The Manufacturers Life Insurance Company Purchases New Stake in SailPoint, Inc. $SAIL

The Manufacturers Life Insurance Company purchased a new stake in shares of SailPoint, Inc. (NASDAQ:SAIL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 224,448 shares of the company’s stock, valued at approximately $3,286,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of SailPoint during the fourth quarter valued at about $234,681,000. Wasatch Advisors LP bought a new stake in shares of SailPoint in the second quarter worth about $66,173,000. Stephens Investment Management Group LLC increased its holdings in SailPoint by 14.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,917,324 shares of the company’s stock valued at $38,787,000 after purchasing an additional 237,829 shares during the period. GSA Capital Partners LLP purchased a new position in SailPoint during the 2nd quarter valued at about $778,000. Finally, Polianta Ltd bought a new position in SailPoint during the 2nd quarter valued at approximately $1,948,000.

SailPoint Stock Performance

SAIL stock opened at $19.23 on Wednesday. SailPoint, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $24.00. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of -71.22, a price-to-earnings-growth ratio of 2.15 and a beta of 2.16. The business’s 50 day moving average price is $16.64 and its two-hundred day moving average price is $14.85.

SailPoint (NASDAQ:SAIL) last released its earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $280.14 million during the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. 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 year.

Insider Activity

In other news, insider Abby Payne sold 16,999 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $262,124.58. Following the sale, the insider directly owned 891,965 shares of the company’s stock, valued at $13,754,100.30. This represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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, CEO Mark D. Mcclain sold 93,260 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the completion of the transaction, the chief executive officer owned 8,093,870 shares of the company’s stock, valued at approximately $124,807,475.40. The trade was a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 quarter, insiders have sold 491,559 shares of company stock worth $7,809,391. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SAIL. Wells Fargo & Company increased their price objective on SailPoint from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Weiss Ratings upgraded SailPoint from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Cantor Fitzgerald raised their price target on SailPoint from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday. BMO Capital Markets reissued an “outperform” rating on shares of SailPoint in a research report on Wednesday, June 10th. Finally, BTIG Research restated a “buy” rating and issued a $18.00 price objective on shares of SailPoint in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SailPoint currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.44.

SailPoint 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.