Freestone Grove Partners LP Purchases Shares of 1,452,613 SailPoint, Inc. $SAIL

Key Points

• Freestone Grove Partners purchased 1,452,613 SailPoint shares worth approximately $21.3 million, representing about 0.26% of the company. Several other institutional investors also opened new positions.
• SailPoint reported quarterly EPS of $0.05, exceeding the $0.04 analyst estimate, while revenue rose 21.5% year over year to $280.14 million. The stock was trading at $20.45, up 12.2%, near its 12-month high of $24.00.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $20.26. Insiders sold $7.96 million in shares over the past 90 days, primarily through pre-arranged plans to cover tax obligations on vested equity awards.

Freestone Grove Partners LP purchased a new stake in SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,452,613 shares of the company's stock, valued at approximately $21,266,000. Freestone Grove Partners LP owned about 0.26% of SailPoint as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Gables Capital Management Inc. acquired a new position in shares of SailPoint during the 2nd quarter worth about $29,000. Palladiem LLC acquired a new stake in SailPoint in the 4th quarter valued at approximately $42,000. Kestra Advisory Services LLC acquired a new stake in SailPoint in the 4th quarter valued at approximately $42,000. State of Wyoming bought a new position in SailPoint in the 2nd quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of SailPoint during the second quarter worth approximately $50,000.

SailPoint Stock Up 12.2%

NASDAQ:SAIL opened at $20.45 on Friday. The firm has a market capitalization of $11.60 billion, a PE ratio of -75.74, a price-to-earnings-growth ratio of 1.91 and a beta of 2.08. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $24.00. The firm has a 50-day moving average price of $16.23 and a 200 day moving average price of $14.75.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company had revenue of $280.14 million during the quarter. During the same period in the previous year, the business posted $0.01 earnings per share. The firm's 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. On average, research analysts expect that SailPoint, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

In other news, insider Abby Payne sold 21,542 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $350,919.18. Following the transaction, the insider directly owned 908,964 shares of the company's stock, valued at $14,807,023.56. The trade was a 2.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, CEO Mark D. Mcclain sold 118,194 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 8,187,130 shares in the company, valued at approximately $133,368,347.70. This trade represents a 1.42% decrease in their ownership of the stock. 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 have sold a total of 499,046 shares of company stock valued at $7,959,131 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities started coverage on SailPoint in a research report on Wednesday, July 8th. They issued a "neutral" rating and a $16.00 price objective for the company. Stephens reiterated an "overweight" rating and set a $20.00 target price on shares of SailPoint in a research note on Wednesday, June 17th. Wolfe Research reissued an "outperform" rating and issued a $18.00 price target on shares of SailPoint in a report on Wednesday, June 10th. The Goldman Sachs Group restated a "neutral" rating and issued a $19.00 price target on shares of SailPoint in a research report on Wednesday, June 10th. Finally, Scotiabank restated a "sector outperform" rating and set a $19.00 price objective (up from $16.00) on shares of SailPoint in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source