First Trust Advisors LP Cuts Stake in SailPoint, Inc. $SAIL

First Trust Advisors LP lessened its holdings in SailPoint, Inc. (NASDAQ:SAIL) by 69.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 54,198 shares of the company’s stock after selling 125,738 shares during the period. First Trust Advisors LP’s holdings in SailPoint were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cerity Partners LLC raised its stake in SailPoint by 0.8% in the fourth quarter. Cerity Partners LLC now owns 115,604 shares of the company’s stock worth $2,339,000 after buying an additional 923 shares in the last quarter. Main Management ETF Advisors LLC lifted its holdings in SailPoint by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 102,573 shares of the company’s stock worth $2,075,000 after buying an additional 1,048 shares during the period. Federation des caisses Desjardins du Quebec boosted its position in SailPoint by 24.1% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,871 shares of the company’s stock valued at $159,000 after acquiring an additional 1,528 shares in the last quarter. State of Wyoming bought a new stake in SailPoint during the 2nd quarter valued at $45,000. Finally, Palladiem LLC purchased a new position in shares of SailPoint in the 4th quarter valued at $42,000.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SAIL. DA Davidson initiated coverage on SailPoint in a research report on Monday, August 3rd. They issued a “neutral” rating and a $17.00 price target for the company. Mizuho set a $16.00 price objective on SailPoint in a research report on Wednesday, June 10th. Barclays cut their target price on SailPoint from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. BTIG Research reiterated a “buy” rating and issued a $18.00 target price on shares of SailPoint in a report on Tuesday, June 9th. Finally, TD Cowen reissued a “buy” rating on shares of SailPoint in a research report on Wednesday, June 17th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, SailPoint currently has an average rating of “Moderate Buy” and an average target price of $19.94.

Insider Buying and Selling

In other news, CFO Brian Carolan sold 46,002 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $709,350.84. Following the sale, the chief financial officer owned 1,707,742 shares in the company, valued at approximately $26,333,381.64. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, CAO Mitra Rezvan sold 3,881 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 transaction of $59,845.02. Following the transaction, the chief accounting officer owned 182,641 shares in the company, valued at approximately $2,816,324.22. This trade represents a 2.08% 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 sold a total of 497,832 shares of company stock valued at $7,934,851 in the last 90 days. 1.70% of the stock is owned by insiders.

SailPoint Trading Down 1.8%

NASDAQ SAIL opened at $19.06 on Wednesday. The firm’s fifty day simple moving average is $15.43 and its two-hundred day simple moving average is $14.52. The firm has a market capitalization of $10.81 billion, a P/E ratio of -70.59, a P/E/G ratio of 2.16 and a beta of 2.08. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $24.00.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm 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 business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $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. As a group, sell-side analysts predict that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

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.