SailPoint, Inc. $SAIL Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in SailPoint, Inc. (NASDAQ:SAIL) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,186,421 shares of the company’s stock after selling 131,368 shares during the period. Vanguard Group Inc.’s holdings in SailPoint were worth $104,921,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Essex Financial Services Inc. boosted its holdings in SailPoint by 7.8% in the 3rd quarter. Essex Financial Services Inc. now owns 13,157 shares of the company’s stock worth $291,000 after buying an additional 947 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in SailPoint in the 3rd quarter worth approximately $31,000. State of Wyoming purchased a new position in SailPoint in the 2nd quarter worth approximately $45,000. CWM LLC lifted its stake in SailPoint by 315.6% in the 4th quarter. CWM LLC now owns 2,656 shares of the company’s stock worth $54,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in SailPoint by 208.2% in the 4th quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company’s stock worth $62,000 after purchasing an additional 2,074 shares in the last quarter.

SailPoint Stock Down 1.4%

Shares of NASDAQ SAIL opened at $11.61 on Wednesday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -20.73 and a beta of 1.09. SailPoint, Inc. has a 52-week low of $10.30 and a 52-week high of $24.95. The business’s 50 day moving average is $12.78 and its two-hundred day moving average is $16.58.

SailPoint (NASDAQ:SAIL) last announced its earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $294.65 million for the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.29) EPS. Analysts anticipate that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of SailPoint from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Barclays decreased their target price on shares of SailPoint from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 target price on shares of SailPoint in a research note on Monday, March 23rd. Truist Financial decreased their target price on shares of SailPoint from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Finally, TD Cowen decreased their target price on shares of SailPoint from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.35.

Insider Buying and Selling

In other SailPoint news, General Counsel Christopher Schmitt sold 18,813 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $215,596.98. Following the sale, the general counsel owned 1,355,551 shares of the company’s stock, valued at $15,534,614.46. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, President Matt Mills sold 34,171 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $391,599.66. Following the completion of the sale, the president directly owned 2,451,334 shares in the company, valued at approximately $28,092,287.64. The trade was a 1.37% decrease in their position. 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. Insiders have sold 526,962 shares of company stock valued at $6,420,108 over the last quarter. 1.70% of the stock is owned by corporate insiders.

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.