1,069,730 Shares in SailPoint, Inc. $SAIL Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 1,069,730 SailPoint shares worth approximately $15.7 million, representing 0.19% of the company. Several other institutional investors also initiated positions during the second quarter.
• SailPoint reported quarterly revenue of $308.8 million, up 17% year over year, and EPS of $0.09, exceeding analyst expectations by $0.01. The company provided fiscal 2027 EPS guidance of $0.30–$0.34.
• Analysts maintain a generally positive outlook, with 19 Buy ratings, five Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $21.55.

Bank of America Corp DE acquired a new stake in SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,069,730 shares of the company's stock, valued at approximately $15,661,000. Bank of America Corp DE owned 0.19% of SailPoint as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Palladiem LLC acquired a new stake in shares of SailPoint during the 4th quarter valued at $42,000. Gables Capital Management Inc. acquired a new position in shares of SailPoint in the second quarter worth $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of SailPoint during the second quarter worth $50,000. State of Wyoming purchased a new stake in shares of SailPoint during the second quarter worth $56,000. Finally, Legal & General Group Plc purchased a new stake in shares of SailPoint during the second quarter worth $94,000.

SailPoint Stock Up 3.3%

Shares of SAIL stock opened at $22.12 on Friday. SailPoint, Inc. has a 12 month low of $10.30 and a 12 month high of $24.00. The business's 50 day moving average is $18.29 and its two-hundred day moving average is $15.42. The company has a market cap of $12.63 billion, a PE ratio of -65.06, a price-to-earnings-growth ratio of 2.35 and a beta of 2.17.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 for the quarter. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The business's quarterly revenue was up 17.0% compared to the same quarter last year. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. As a group, equities analysts expect that SailPoint, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on SAIL. BMO Capital Markets restated a "buy" rating and issued a $21.00 target price on shares of SailPoint in a research note on Thursday, September 10th. TD Cowen reaffirmed a "buy" rating on shares of SailPoint in a research note on Wednesday, September 9th. Wolfe Research reiterated an "outperform" rating and set a $18.00 price target on shares of SailPoint in a report on Wednesday, June 10th. Royal Bank Of Canada boosted their price target on SailPoint from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Finally, Cantor Fitzgerald increased their price objective on SailPoint from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Tuesday, September 1st. Nineteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.55.

Insider Activity at SailPoint

In other news, CAO Mitra Rezvan sold 3,881 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $59,845.02. Following the transaction, the chief accounting officer directly owned 182,641 shares of the company's stock, valued at $2,816,324.22. The trade was a 2.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, insider Abby Payne sold 16,999 shares of the firm's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $262,124.58. Following the sale, the insider directly owned 891,965 shares of the company's stock, valued at $13,754,100.30. This represents a 1.87% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 491,559 shares of company stock valued at $7,809,391. Insiders own 1.70% of the company's stock.

SailPoint Profile

SailPoint Technologies, Inc NASDAQ: SAIL is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.

The company's offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.

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