Bank of New York Mellon Corp Decreases Stock Position in SailPoint, Inc. $SAIL

Key Points

• Bank of New York Mellon reduced its SailPoint stake by 17% in the first quarter, selling 138,139 shares and retaining 676,187 shares worth approximately $8.95 million.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $20.08; several firms recently maintained Buy or Outperform ratings.
• SailPoint reported quarterly revenue of $280.14 million, up 21.5% year over year, and earnings of $0.05 per share, exceeding estimates. However, insiders sold nearly 498,000 shares worth $7.93 million during the latest quarter.

Bank of New York Mellon Corp cut its holdings in SailPoint, Inc. (NASDAQ:SAIL - Free Report) by 17.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 676,187 shares of the company's stock after selling 138,139 shares during the quarter. Bank of New York Mellon Corp owned 0.12% of SailPoint worth $8,953,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SAIL. Palladiem LLC purchased a new stake in shares of SailPoint during the fourth quarter valued at $42,000. Kestra Advisory Services LLC bought a new position in SailPoint during the 4th quarter valued at about $42,000. State of Wyoming bought a new position in SailPoint during the 2nd quarter valued at about $45,000. CWM LLC boosted its holdings in shares of SailPoint by 315.6% during the 4th quarter. CWM LLC now owns 2,656 shares of the company's stock valued at $54,000 after acquiring an additional 2,017 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of SailPoint by 208.2% during the 4th quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company's stock valued at $62,000 after acquiring an additional 2,074 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on SAIL. Wells Fargo & Company lifted their price target on shares of SailPoint from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 10th. Wolfe Research restated an "outperform" rating and issued a $18.00 target price on shares of SailPoint in a report on Wednesday, June 10th. TD Cowen reaffirmed a "buy" rating on shares of SailPoint in a research report on Wednesday, June 17th. Mizuho set a $16.00 target price on shares of SailPoint in a research report on Wednesday, June 10th. Finally, Roth Capital initiated coverage on shares of SailPoint in a research note on Wednesday, May 20th. They set a "buy" rating and a $19.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.08.

Insider Buying and Selling

In other SailPoint news, CEO Mark D. Mcclain sold 118,194 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $1,925,380.26. Following the completion of the sale, the chief executive officer owned 8,187,130 shares in the company, valued at $133,368,347.70. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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, General Counsel Christopher Schmitt sold 23,940 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $389,982.60. Following the completion of the transaction, the general counsel directly owned 1,331,611 shares in the company, valued at $21,691,943.19. This trade represents a 1.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 497,832 shares of company stock worth $7,934,851 in the last quarter. Company insiders own 1.70% of the company's stock.

SailPoint Price Performance

Shares of NASDAQ:SAIL opened at $16.77 on Monday. The stock has a market capitalization of $9.51 billion, a PE ratio of -62.11, a price-to-earnings-growth ratio of 1.86 and a beta of 2.07. The firm's 50 day moving average price is $15.32 and its 200-day moving average price is $14.53. SailPoint, Inc. has a twelve month low of $10.30 and a twelve month high of $24.00.

SailPoint (NASDAQ:SAIL - Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The company had revenue of $280.14 million during the quarter. During the same quarter last year, the firm posted $0.01 earnings per share. The business's quarterly revenue was up 21.5% compared to the same quarter last year. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Analysts expect that SailPoint, Inc. will post 0.33 earnings per share for the current fiscal year.

SailPoint Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.