The Manufacturers Life Insurance Company Acquires 67,601 Shares of SailPoint, Inc. $SAIL

The Manufacturers Life Insurance Company raised its stake in shares of SailPoint, Inc. (NASDAQ:SAIL) by 178.4% in the first quarter, Holdings Channel.com reports. The firm owned 105,497 shares of the company’s stock after buying an additional 67,601 shares during the period. The Manufacturers Life Insurance Company’s holdings in SailPoint were worth $1,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of SailPoint in the fourth quarter worth approximately $234,681,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in SailPoint during the second quarter worth $64,453,000. UBS Group AG grew its holdings in SailPoint by 116.3% during the third quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after buying an additional 2,219,593 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in SailPoint in the 4th quarter valued at $35,203,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in SailPoint in the 4th quarter valued at $20,778,000.

Insider Activity at SailPoint

In other SailPoint news, CEO Mark D. Mcclain sold 118,194 shares of SailPoint stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total transaction of $1,925,380.26. Following the completion of the sale, the chief executive officer directly owned 8,187,130 shares in the company, valued at $133,368,347.70. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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, insider Abby Payne sold 21,542 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $350,919.18. Following the completion of the transaction, the insider directly owned 908,964 shares of the company’s stock, valued at approximately $14,807,023.56. This represents a 2.32% decrease in their position. 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 have sold 497,832 shares of company stock valued at $7,934,851 in the last ninety days. Insiders own 1.70% of the company’s stock.

SailPoint Stock Performance

NASDAQ:SAIL opened at $19.41 on Tuesday. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of -71.89, a P/E/G ratio of 2.07 and a beta of 2.07. SailPoint, Inc. has a 52-week low of $10.30 and a 52-week high of $24.00. The stock has a fifty day moving average of $15.45 and a 200 day moving average of $14.51.

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

Wall Street Analysts Forecast Growth

SAIL has been the topic of several recent analyst reports. BTIG Research restated a “buy” rating and set a $18.00 price objective on shares of SailPoint in a research note on Tuesday, June 9th. Stephens reiterated an “overweight” rating and issued a $20.00 target price on shares of SailPoint in a report on Wednesday, June 17th. TD Cowen reiterated a “buy” rating on shares of SailPoint in a report on Wednesday, June 17th. Roth Capital initiated coverage on shares of SailPoint in a research report on Wednesday, May 20th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Rosenblatt Securities started coverage on shares of SailPoint in a research note on Wednesday, July 8th. They issued a “neutral” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.94.

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.