91,924 Shares of SailPoint, Inc. $SAIL Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in SailPoint, Inc. (NASDAQ:SAIL) in the third quarter, Holdings Channel.com reports. The institutional investor bought 91,924 shares of the company’s stock, valued at approximately $1,872,000.

Several other hedge funds have also modified their holdings of the company. Wasatch Advisors LP purchased a new stake in shares of SailPoint during the second quarter valued at about $66,173,000. BlackRock Inc. purchased a new stake in SailPoint during the second quarter valued at approximately $65,050,000. Bank of America Corp DE boosted its stake in SailPoint by 40.1% in the first quarter. Bank of America Corp DE now owns 1,764,870 shares of the company’s stock valued at $23,367,000 after acquiring an additional 504,726 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in SailPoint in the second quarter valued at approximately $21,266,000. Finally, Bamco Inc. NY purchased a new position in SailPoint in the second quarter worth $15,914,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SAIL. BTIG Research reaffirmed a “buy” rating and set a $21.00 price target on shares of SailPoint in a research report on Wednesday, September 9th. Stephens restated an “overweight” rating on shares of SailPoint in a research note on Monday, October 12th. Wells Fargo & Company upped their target price on SailPoint from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Scotiabank reissued an “outperform” rating on shares of SailPoint in a report on Monday, October 5th. Finally, TD Cowen restated a “buy” rating on shares of SailPoint in a research note 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, SailPoint presently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

SailPoint Trading Up 4.5%

Shares of SailPoint stock opened at $19.21 on Friday. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $22.62. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of -56.50, a PEG ratio of 2.03 and a beta of 2.08. The firm’s 50 day simple moving average is $19.94 and its two-hundred day simple moving average is $16.15.

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

Insider Activity at SailPoint

In other SailPoint news, General Counsel Christopher Schmitt sold 23,367 shares of the business’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total transaction of $460,563.57. Following the sale, the general counsel owned 1,268,311 shares in the company, valued at approximately $24,998,409.81. The trade was a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CEO Mark McClain sold 115,356 shares of the firm’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total value of $2,273,666.76. Following the completion of the transaction, the chief executive officer owned 7,874,621 shares of the company’s stock, valued at approximately $155,208,779.91. The trade was a 1.44% decrease in their ownership of the stock. 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 a total of 515,009 shares of company stock worth $10,310,350 in the last quarter. 1.70% of the stock is owned by insiders.

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.