Bamco Inc. NY Invests $15.91 Million in SailPoint, Inc. $SAIL

Key Points

• Bamco Inc. NY acquired 1.09 million SailPoint shares worth approximately $15.91 million in the second quarter, representing about 0.19% of the company. Other institutions, including Norges Bank and Wasatch Advisors, also initiated or expanded positions.
• Analysts maintain a generally positive outlook, with SailPoint carrying a consensus “Moderate Buy” rating and an average price target of $20.26; individual targets range from $18 to $23.
• SailPoint reported quarterly EPS of $0.05, beating estimates by $0.01, while revenue rose 21.5% year over year to $280.14 million. Despite positive return on equity, the company posted a negative 14.04% net margin.

Bamco Inc. NY purchased a new stake in SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,087,053 shares of the company's stock, valued at approximately $15,914,000. Bamco Inc. NY owned approximately 0.19% of SailPoint as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of SailPoint during the 4th quarter valued at approximately $234,681,000. Wasatch Advisors LP acquired a new stake in SailPoint in the 2nd quarter valued at about $66,173,000. The Manufacturers Life Insurance Company grew its stake in SailPoint by 178.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company's stock valued at $1,397,000 after acquiring an additional 67,601 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in SailPoint by 14.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,917,324 shares of the company's stock valued at $38,787,000 after acquiring an additional 237,829 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in SailPoint during the 2nd quarter valued at about $778,000.

Insider Transactions at SailPoint

In other news, insider Abby Payne sold 16,999 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $262,124.58. Following the transaction, the insider directly owned 891,965 shares in the company, valued at $13,754,100.30. This represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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, EVP Chandrasekar Gnanasambandam sold 19,540 shares of the firm'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 transaction of $301,306.80. Following the completion of the sale, the executive vice president directly owned 934,508 shares in the company, valued at $14,410,113.36. This represents a 2.05% 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. Insiders sold 499,046 shares of company stock worth $7,959,131 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Scotiabank reaffirmed a "sector outperform" rating and issued a $19.00 price target (up from $16.00) on shares of SailPoint in a report on Tuesday, June 9th. Mizuho lifted their price objective on SailPoint from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. Wolfe Research reaffirmed an "outperform" rating and issued a $18.00 target price on shares of SailPoint in a research note on Wednesday, June 10th. Weiss Ratings raised SailPoint from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price target on shares of SailPoint in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.26.

SailPoint Stock Performance

SAIL stock opened at $20.45 on Friday. The stock has a market capitalization of $11.60 billion, a P/E ratio of -75.74, a PEG ratio of 1.91 and a beta of 2.08. SailPoint, Inc. has a one year low of $10.30 and a one year high of $24.00. The company has a 50 day moving average price of $16.23 and a two-hundred day moving average price of $14.75.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $280.14 million for the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.SailPoint's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Research analysts forecast that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

About SailPoint

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.

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