450,000 Shares in SailPoint, Inc. (NASDAQ:SAIL) Bought by Burkehill Global Management LP

Key Points

• Burkehill Global Management LP purchased 450,000 shares of SailPoint, Inc., valued at approximately $8.4 million, in its first quarter SEC filing.
• According to various analysts, SailPoint's stock has a consensus rating of "Moderate Buy", with an average target price of $25.47.
• SailPoint reported a 22.8% year-over-year revenue increase in its last quarter, achieving $230.47 million compared to estimates of $225.18 million.

Burkehill Global Management LP acquired a new stake in SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 450,000 shares of the company's stock, valued at approximately $8,438,000. Burkehill Global Management LP owned about 0.08% of SailPoint at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SAIL. Vanguard Group Inc. acquired a new position in SailPoint in the 1st quarter valued at about $94,194,000. Stephens Investment Management Group LLC acquired a new position in SailPoint during the 1st quarter worth $23,213,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of SailPoint during the 1st quarter valued at approximately $7,011,000. Phoenix Financial Ltd. acquired a new stake in shares of SailPoint during the 1st quarter valued at approximately $4,321,000. Finally, TD Asset Management Inc acquired a new stake in SailPoint in the first quarter worth $3,653,000.

SailPoint Trading Up 3.3%

NASDAQ SAIL traded up $0.61 on Tuesday, reaching $18.95. The company had a trading volume of 3,082,868 shares, compared to its average volume of 2,417,588. The company has a 50 day moving average of $21.24. 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 posted 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. SailPoint's revenue for the quarter was up 22.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Arete began coverage on SailPoint in a research note on Monday, July 7th. They set a "sell" rating and a $16.00 target price for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $29.00 price target (up from $27.00) on shares of SailPoint in a research report on Thursday, June 12th. Mizuho lifted their price target on SailPoint from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Wells Fargo & Company lifted their price objective on SailPoint from $16.00 to $20.00 and gave the stock an "equal weight" rating in a report on Thursday, June 12th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of SailPoint in a research note on Wednesday, June 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, SailPoint presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

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.