SailPoint, Inc. $SAIL Shares Newly Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS bought a new stake in SailPoint, Inc. (NASDAQ:SAIL) in the 3rd quarter, HoldingsChannel reports. The fund bought 259,970 shares of the company’s stock, valued at approximately $5,293,000.

A number of other institutional investors have also recently made changes to their positions in SAIL. FNY Investment Advisers LLC raised its stake in SailPoint by 12.0% in the second quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock valued at $122,000 after buying an additional 900 shares during the last quarter. State of Wyoming increased its stake in shares of SailPoint by 33.4% in the third quarter. State of Wyoming now owns 5,089 shares of the company’s stock worth $104,000 after acquiring an additional 1,274 shares during the period. Outfitters Financial LLC raised its holdings in shares of SailPoint by 4.8% during the second quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock worth $603,000 after purchasing an additional 1,900 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in SailPoint during the 2nd quarter worth about $29,000. Finally, Covestor Ltd lifted its holdings in shares of SailPoint by 134.1% in the 3rd quarter. Covestor Ltd now owns 3,813 shares of the company’s stock valued at $78,000 after buying an additional 2,184 shares during the period.

Insiders Place Their Bets

In related news, President Matt Mills sold 42,442 shares of SailPoint stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total value of $836,531.82. Following the completion of the transaction, the president owned 2,292,872 shares in the company, valued at approximately $45,192,507.12. The trade was a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, CFO Brian Carolan sold 52,822 shares of the stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total value of $1,041,121.62. Following the completion of the sale, the chief financial officer owned 1,626,381 shares in the company, valued at approximately $32,055,969.51. The trade was a 3.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 515,009 shares of company stock valued at $10,310,350. 1.70% of the stock is owned by company insiders.

SailPoint Price Performance

Shares of NASDAQ SAIL opened at $19.21 on Monday. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of -56.50, a PEG ratio of 2.03 and a beta of 2.08. SailPoint, Inc. has a 52-week low of $10.30 and a 52-week high of $22.62. The business’s 50 day moving average is $19.94 and its two-hundred day moving average is $16.15.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. SailPoint had a positive return on equity of 2.44% and a negative net margin of 16.92%. The business had revenue of $308.81 million during the quarter. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Analysts anticipate that SailPoint, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SAIL. Bank of America boosted their price target on SailPoint from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, September 18th. Roth Capital restated a “buy” rating and issued a $21.00 price objective (up from $19.00) on shares of SailPoint in a report on Thursday, September 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $21.00 price objective on shares of SailPoint in a research note on Thursday, September 10th. Jefferies Financial Group reissued a “buy” rating on shares of SailPoint in a research note on Wednesday, October 7th. Finally, BTIG Research reiterated a “buy” rating and set a $21.00 price objective on shares of SailPoint in a research report on Wednesday, September 9th. Twenty-one research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SailPoint has an average rating of “Moderate Buy” and an average target price of $22.20.

SailPoint Company Profile

SailPoint Technologies provides identity security software that helps organizations manage and protect access to applications, data and other digital resources. Its platform supports identity governance, access reviews, automated provisioning and policy enforcement for employees, contractors and other users, as well as non-human identities such as software bots.

The company offers cloud-based and customer-managed products, including SailPoint Identity Security Cloud and IdentityIQ. These tools help organizations apply access controls, streamline identity-related processes and meet security and compliance requirements.

Founded in 2005 and headquartered in Austin, Texas, SailPoint serves organizations around the world.