First Trust Advisors LP Reduces Position in SailPoint, Inc. $SAIL

First Trust Advisors LP trimmed its position in SailPoint, Inc. (NASDAQ:SAIL) by 69.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SAIL. Norges Bank purchased a new stake in SailPoint during the 4th quarter valued at about $234,681,000. Stephens Investment Management Group LLC increased its holdings in shares of SailPoint by 14.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,917,324 shares of the company’s stock valued at $38,787,000 after purchasing an additional 237,829 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of SailPoint in the fourth quarter worth about $910,000. Oddo BHF Asset Management Sas purchased a new position in shares of SailPoint in the fourth quarter worth about $8,041,000. Finally, Bleakley Financial Group LLC acquired a new stake in shares of SailPoint during the first quarter worth about $614,000.

Analyst Ratings Changes

A number of equities research analysts recently commented on SAIL shares. DA Davidson assumed coverage on SailPoint in a research report on Monday, August 3rd. They issued a “neutral” rating and a $17.00 target price on the stock. Jefferies Financial Group lowered shares of SailPoint from a “buy” rating to a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings restated a “sell (e+)” rating on shares of SailPoint in a research note on Wednesday, June 17th. Truist Financial set a $18.00 price objective on shares of SailPoint in a report on Wednesday, June 17th. Finally, Wells Fargo & Company increased their price objective on shares of SailPoint from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.94.

Insider Buying and Selling at SailPoint

In related news, CEO Mark D. Mcclain sold 93,260 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the sale, the chief executive officer directly owned 8,093,870 shares of the company’s stock, valued at approximately $124,807,475.40. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 16,999 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $262,124.58. Following the sale, the insider directly owned 891,965 shares in the company, valued at $13,754,100.30. This trade represents a 1.87% 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. Over the last ninety days, insiders have sold 497,832 shares of company stock worth $7,934,851. 1.70% of the stock is currently owned by insiders.

SailPoint Stock Down 1.8%

Shares of SAIL opened at $19.06 on Wednesday. SailPoint, Inc. has a 52 week low of $10.30 and a 52 week high of $24.00. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of -70.59, a PEG ratio of 2.16 and a beta of 2.08. The stock’s 50-day moving average price is $15.43 and its 200-day moving average price is $14.52.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $280.14 million during the quarter. During the same quarter in the prior year, the business posted $0.01 earnings per share. The firm’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. As a group, equities analysts anticipate that SailPoint, Inc. will post 0.32 EPS 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.