Kornitzer Capital Management Inc. KS Acquires New Shares in SailPoint, Inc. $SAIL

Key Points

• Kornitzer Capital Management initiated a position in SailPoint during Q3, buying 259,970 shares valued at approximately $5.3 million. Several other institutional investors also increased or opened positions.
• SailPoint reported quarterly EPS of $0.09, topping the $0.08 consensus, while revenue rose 17% year over year to $308.81 million. The company guided to FY2027 EPS of $0.30–$0.34.
• Analyst sentiment is broadly positive: 21 analysts rate the stock Buy, six Hold and one Sell, with a consensus price target of $22.20. Insiders sold 515,009 shares worth about $10.3 million during the quarter.

Kornitzer Capital Management Inc. KS purchased a new position in SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 259,970 shares of the company's stock, valued at approximately $5,293,000.

Other large investors also recently bought and sold shares of the company. FNY Investment Advisers LLC lifted its holdings in shares of SailPoint by 12.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company's stock valued at $122,000 after buying an additional 900 shares during the period. State of Wyoming grew its position in SailPoint by 33.4% during the third quarter. State of Wyoming now owns 5,089 shares of the company's stock valued at $104,000 after buying an additional 1,274 shares during the period. Outfitters Financial LLC raised its position in SailPoint by 4.8% in the second quarter. Outfitters Financial LLC now owns 41,175 shares of the company's stock worth $603,000 after acquiring an additional 1,900 shares during the period. Gables Capital Management Inc. bought a new position in SailPoint in the second quarter worth approximately $29,000. Finally, Covestor Ltd boosted its stake in shares of SailPoint by 134.1% during the 3rd quarter. Covestor Ltd now owns 3,813 shares of the company's stock worth $78,000 after acquiring an additional 2,184 shares during the last quarter.

SailPoint Stock Performance

NASDAQ:SAIL opened at $19.21 on Monday. The business's 50-day moving average is $19.94 and its 200 day moving average is $16.15. SailPoint, Inc. has a 12 month low of $10.30 and a 12 month high of $22.62. The company has a market capitalization of $10.97 billion, a P/E ratio of -56.50, a P/E/G ratio of 2.03 and a beta of 2.08.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its earnings results on Wednesday, September 9th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The firm had revenue of $308.81 million during the quarter. SailPoint had a positive return on equity of 2.44% and a negative net margin of 16.92%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. On average, research analysts forecast that SailPoint, Inc. will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Mark McClain sold 115,356 shares of SailPoint stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total transaction of $2,273,666.76. Following the completion of the transaction, the chief executive officer directly owned 7,874,621 shares of the company's stock, valued at approximately $155,208,779.91. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, Director James Hagan sold 4,205 shares of the firm's stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $22.50, for a total transaction of $94,612.50. Following the completion of the sale, the director directly owned 94,125 shares of the company's stock, valued at approximately $2,117,812.50. The trade was a 4.28% 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. In the last quarter, insiders have sold 515,009 shares of company stock valued at $10,310,350. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial upped their price objective on SailPoint from $23.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, September 24th. Barclays raised their target price on shares of SailPoint from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, September 10th. TD Cowen reissued a "buy" rating on shares of SailPoint in a research note on Wednesday, September 9th. Evercore restated an "outperform" rating on shares of SailPoint in a research note on Thursday, September 10th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $17.00 price target on shares of SailPoint in a research note on Thursday, September 10th. Twenty-one investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SailPoint presently has an average rating of "Moderate Buy" and a consensus target price of $22.20.

SailPoint Profile

SailPoint Technologies provides identity security software that helps organizations manage and protect access to applications, data and other digital resources. Its platform supports identity governance, access reviews, automated provisioning and policy enforcement for employees, contractors and other users, as well as non-human identities such as software bots.

The company offers cloud-based and customer-managed products, including SailPoint Identity Security Cloud and IdentityIQ. These tools help organizations apply access controls, streamline identity-related processes and meet security and compliance requirements.

Founded in 2005 and headquartered in Austin, Texas, SailPoint serves organizations around the world.

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