Allianz Asset Management GmbH Invests $3.50 Million in SailPoint, Inc. (NASDAQ:SAIL)

Allianz Asset Management GmbH bought a new stake in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 186,427 shares of the company's stock, valued at approximately $3,496,000.

Separately, Stephens Investment Management Group LLC bought a new stake in SailPoint during the first quarter valued at $23,213,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of SailPoint from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Arete Research upgraded SailPoint to a "strong sell" rating and set a $16.00 price objective for the company in a research report on Monday, July 7th. Morgan Stanley lowered their price objective on SailPoint from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Barclays raised their target price on SailPoint from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $29.00 price target (up previously from $27.00) on shares of SailPoint in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, SailPoint presently has an average rating of "Moderate Buy" and an average price target of $25.47.

SailPoint Price Performance

SAIL stock traded down $1.72 during mid-day trading on Friday, reaching $20.62. 3,467,976 shares of the stock traded hands, compared to its average volume of 1,948,066. The stock has a 50-day simple moving average of $20.96. SailPoint, Inc. has a 52 week low of $15.05 and a 52 week high of $26.35.

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

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.