Stephens Investment Management Group LLC raised its position in shares of SailPoint, Inc. (NASDAQ:SAIL – Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,917,324 shares of the company’s stock after acquiring an additional 237,829 shares during the quarter. Stephens Investment Management Group LLC’s holdings in SailPoint were worth $38,787,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in SailPoint by 4.3% during the third 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 during the last quarter. UBS Group AG boosted its position in shares of SailPoint by 116.3% during the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after purchasing an additional 2,219,593 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of SailPoint by 34.3% during the 3rd quarter. GW&K Investment Management LLC now owns 3,395,602 shares of the company’s stock worth $74,975,000 after purchasing an additional 866,889 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SailPoint by 1.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,869,273 shares of the company’s stock worth $63,359,000 after purchasing an additional 49,718 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of SailPoint by 20.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,680,131 shares of the company’s stock worth $59,177,000 after purchasing an additional 464,098 shares in the last quarter.
SailPoint Price Performance
SAIL opened at $13.50 on Friday. SailPoint, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $24.95. The firm has a market capitalization of $7.66 billion, a PE ratio of -24.11 and a beta of 1.09. The company’s 50-day moving average is $12.70 and its 200 day moving average is $16.42.
Insider Buying and Selling
In related news, President Matt Mills sold 34,171 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $391,599.66. Following the sale, the president owned 2,451,334 shares in the company, valued at $28,092,287.64. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal 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, insider Abby Payne sold 16,930 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $194,017.80. Following the completion of the sale, the insider owned 930,506 shares in the company, valued at $10,663,598.76. This represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 526,962 shares of company stock worth $6,420,108 over the last ninety days. Insiders own 1.70% of the company’s stock.
Wall Street Analysts Forecast Growth
SAIL has been the topic of a number of research analyst reports. FBN Securities initiated coverage on shares of SailPoint in a research report on Tuesday, February 24th. They set an “outperform” rating and a $18.00 price objective on the stock. The Goldman Sachs Group cut their price objective on shares of SailPoint from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Scotiabank cut their price objective on shares of SailPoint from $24.00 to $16.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 19th. Finally, Wells Fargo & Company cut their price objective 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. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.25.
View Our Latest Report on SAIL
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.
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