Alberta Investment Management Corp Invests $938,000 in SailPoint, Inc. (NASDAQ:SAIL)

Key Points

• Alberta Investment Management Corp has purchased a new position in SailPoint, buying 50,000 shares valued at approximately $938,000.
• SailPoint's stock is currently priced at $20.62, down 7.7% recently, with a one-year trading range between $15.05 and $26.35.
• Research firms have issued varying ratings, with Royal Bank Of Canada giving an "outperform" rating and a price objective of $29.00 for SailPoint shares.

Alberta Investment Management Corp acquired a new stake in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $938,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new position in shares of SailPoint during the 1st quarter worth about $32,000. Picton Mahoney Asset Management acquired a new stake in SailPoint during the first quarter worth about $87,000. US Bancorp DE bought a new stake in shares of SailPoint in the 1st quarter worth approximately $213,000. Natixis Advisors LLC acquired a new stake in shares of SailPoint during the 1st quarter worth approximately $835,000. Finally, Vestcor Inc acquired a new position in shares of SailPoint in the first quarter valued at $938,000.

SailPoint Price Performance

Shares of SAIL traded down $0.28 during midday trading on Thursday, hitting $19.96. The stock had a trading volume of 2,061,734 shares, compared to its average volume of 2,058,863. The firm has a 50 day moving average of $21.12. SailPoint, Inc. has a twelve month low of $15.05 and a twelve month high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The business had revenue of $230.47 million for the quarter, compared to analyst estimates of $225.18 million. The business's revenue for the quarter was up 22.8% on a year-over-year basis.

Analyst Ratings Changes

Several analysts recently commented on the company. Arete Research raised SailPoint to a "strong sell" rating and set a $16.00 price target on the stock in a research note on Monday, July 7th. Cantor Fitzgerald initiated coverage on SailPoint in a research report on Monday, June 30th. They issued an "overweight" rating and a $29.00 price objective for the company. JPMorgan Chase & Co. raised their target price on SailPoint from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. Mizuho upped their price target on shares of SailPoint from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company raised their price objective on shares of SailPoint from $16.00 to $20.00 and gave the company an "equal weight" rating in a research report on Thursday, June 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $25.47.

SailPoint Company Profile

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.