Truist Financial Corp Has $849,000 Holdings in SailPoint, Inc. $SAIL

Truist Financial Corp cut its holdings in shares of SailPoint, Inc. (NASDAQ:SAIL) by 76.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,976 shares of the company’s stock after selling 137,122 shares during the quarter. Truist Financial Corp’s holdings in SailPoint were worth $849,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of SailPoint by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company’s stock valued at $117,417,000 after acquiring an additional 219,375 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of SailPoint by 86.0% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 167,021 shares of the company’s stock valued at $3,688,000 after acquiring an additional 77,237 shares in the last quarter. OFI Invest Asset Management boosted its position in shares of SailPoint by 79.6% during the 4th quarter. OFI Invest Asset Management now owns 905,653 shares of the company’s stock valued at $18,321,000 after acquiring an additional 401,431 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of SailPoint by 22.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,412,578 shares of the company’s stock valued at $26,768,000 after acquiring an additional 255,720 shares in the last quarter. Finally, NZS Capital LLC boosted its position in shares of SailPoint by 186.6% during the 3rd quarter. NZS Capital LLC now owns 1,747,161 shares of the company’s stock valued at $38,577,000 after acquiring an additional 1,137,643 shares in the last quarter.

SailPoint Stock Performance

Shares of NASDAQ SAIL opened at $13.50 on Monday. SailPoint, Inc. has a 1-year low of $10.30 and a 1-year high of $24.95. The company has a market cap of $7.66 billion, a PE ratio of -24.11 and a beta of 1.09. The company has a 50-day moving average of $12.70 and a two-hundred day moving average of $16.37.

SailPoint (NASDAQ:SAIL) last announced its earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. The company had revenue of $294.65 million during the quarter. During the same period in the prior year, the firm posted ($4.29) earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts forecast that SailPoint, Inc. will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SAIL shares. BTIG Research decreased their target price on shares of SailPoint from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. FBN Securities started coverage on shares of SailPoint in a research report on Tuesday, February 24th. They set an “outperform” rating and a $18.00 target price on the stock. Robert W. Baird decreased their target price on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. 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 report on Thursday, March 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 target price on shares of SailPoint in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SailPoint currently has an average rating of “Moderate Buy” and an average target price of $21.25.

Insider Buying and Selling at SailPoint

In related news, 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 transaction of $391,599.66. Following the completion of the sale, the president directly owned 2,451,334 shares of the company’s stock, valued at $28,092,287.64. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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, 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 transaction of $215,596.98. Following the sale, the general counsel directly owned 1,355,551 shares of the company’s stock, valued at approximately $15,534,614.46. This trade represents a 1.37% 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. Insiders sold a total of 526,962 shares of company stock valued at $6,420,108 over the last 90 days. Company insiders own 1.70% of the company’s stock.

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.