BlackRock Inc. Invests $65.05 Million in SailPoint, Inc. $SAIL

BlackRock Inc. acquired a new position in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,443,309 shares of the company's stock, valued at approximately $65,050,000. BlackRock Inc. owned approximately 0.78% of SailPoint at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SAIL. Deutsche Bank AG bought a new position in SailPoint during the 2nd quarter worth $600,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of SailPoint in the 2nd quarter valued at about $2,961,000. Bank of New York Mellon Corp acquired a new stake in shares of SailPoint in the second quarter valued at about $9,586,000. State of Wyoming acquired a new stake in shares of SailPoint in the second quarter valued at about $56,000. Finally, GSA Capital Partners LLP bought a new position in shares of SailPoint during the second quarter worth about $778,000.

Insider Buying and Selling

In other SailPoint news, CEO Mark D. Mcclain sold 93,260 shares of SailPoint stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the completion of the transaction, the chief executive officer owned 8,093,870 shares of the company's stock, valued at $124,807,475.40. The trade was a 1.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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, CAO Mitra Rezvan sold 3,881 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $59,845.02. Following the completion of the sale, the chief accounting officer directly owned 182,641 shares in the company, valued at approximately $2,816,324.22. The trade was a 2.08% 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. Over the last quarter, insiders have sold 491,559 shares of company stock valued at $7,809,391. Corporate insiders own 1.70% of the company's stock.

SailPoint Stock Performance

NASDAQ SAIL opened at $19.83 on Monday. The business has a fifty day simple moving average of $16.36 and a 200 day simple moving average of $14.78. SailPoint, Inc. has a 12 month low of $10.30 and a 12 month high of $24.00. The firm has a market capitalization of $11.25 billion, a P/E ratio of -73.44, a PEG ratio of 2.08 and a beta of 2.07.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates 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%.The business's revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. As a group, sell-side analysts predict that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SAIL. Royal Bank Of Canada upped their price objective on shares of SailPoint from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. BMO Capital Markets restated an "outperform" rating on shares of SailPoint in a report on Wednesday, June 10th. Rosenblatt Securities began coverage on shares of SailPoint in a research report on Wednesday, July 8th. They set a "neutral" rating and a $16.00 price target on the stock. Scotiabank reiterated a "sector outperform" rating and set a $19.00 price target (up from $16.00) on shares of SailPoint in a report on Tuesday, June 9th. Finally, Wolfe Research reissued an "outperform" rating and issued a $18.00 price objective on shares of SailPoint in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.26.

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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