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 bought a new position in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 50,000 shares of the company's stock, valued at approximately $938,000.

Several other large investors also recently modified their holdings of the stock. Assetmark Inc. acquired a new stake in shares of SailPoint during the 1st quarter worth $32,000. Picton Mahoney Asset Management acquired a new stake in shares of SailPoint during the 1st quarter worth $87,000. US Bancorp DE acquired a new stake in shares of SailPoint during the 1st quarter worth $213,000. Natixis Advisors LLC acquired a new stake in SailPoint in the first quarter valued at about $835,000. Finally, Vestcor Inc acquired a new stake in SailPoint in the first quarter valued at about $938,000.

SailPoint Stock Down 7.7%

Shares of SAIL opened at $20.62 on Monday. SailPoint, Inc. has a 1 year low of $15.05 and a 1 year high of $26.35. The business's 50-day moving average is $20.96.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SAIL. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $29.00 price objective (up from $27.00) on shares of SailPoint in a research note on Thursday, June 12th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of SailPoint in a research note on Wednesday, June 11th. BMO Capital Markets raised their price objective on SailPoint from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Wells Fargo & Company raised their price objective on SailPoint from $16.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, June 12th. Finally, Arete began coverage on SailPoint in a research note on Monday, July 7th. They issued a "sell" rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.47.

About SailPoint

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.

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