NewEdge Wealth LLC Takes $5.11 Million Position in SailPoint, Inc. $SAIL

Key Points

• NewEdge Wealth acquired 349,053 SailPoint shares worth approximately $5.11 million in the second quarter, representing about 0.06% of the company. Other institutions, including Norges Bank and Wasatch Advisors, also established or expanded positions.
• Analysts maintain a generally positive view of SailPoint, with a consensus “Moderate Buy” rating and an average price target of $20.40. Recent targets range from $17 to $22.
• SailPoint reported quarterly revenue of $280.14 million, up 21.5% year over year, and EPS of $0.05 versus expectations of $0.04. However, insiders sold 499,046 shares worth roughly $7.96 million over the last quarter, while the stock recently opened at $19.19.

NewEdge Wealth LLC acquired a new position in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 349,053 shares of the company's stock, valued at approximately $5,110,000. NewEdge Wealth LLC owned approximately 0.06% of SailPoint at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SAIL. Norges Bank purchased a new stake in shares of SailPoint during the 4th quarter valued at $234,681,000. Wasatch Advisors LP purchased a new position in SailPoint in the second quarter worth $66,173,000. The Manufacturers Life Insurance Company grew its position in SailPoint by 178.4% in the first quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company's stock worth $1,397,000 after acquiring an additional 67,601 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in SailPoint by 14.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,917,324 shares of the company's stock valued at $38,787,000 after acquiring an additional 237,829 shares during the last quarter. Finally, Polianta Ltd bought a new position in SailPoint in the second quarter valued at $1,948,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SAIL shares. The Goldman Sachs Group restated a "neutral" rating and set a $19.00 price target on shares of SailPoint in a research report on Wednesday, June 10th. TD Cowen increased their price objective on SailPoint from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Monday. Mizuho increased their price objective on SailPoint from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday. DA Davidson initiated coverage on SailPoint in a report on Monday, August 3rd. They set a "neutral" rating and a $17.00 price objective on the stock. Finally, Stephens restated an "overweight" rating and issued a $20.00 target price on shares of SailPoint in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SailPoint presently has a consensus rating of "Moderate Buy" and an average target price of $20.40.

Insider Buying and Selling at SailPoint

In other SailPoint news, President Matt Mills sold 43,485 shares of SailPoint 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 $708,370.65. Following the transaction, the president directly owned 2,407,849 shares of the company's stock, valued at $39,223,860.21. The trade was a 1.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, insider Abby Payne sold 21,542 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total value of $350,919.18. Following the sale, the insider directly owned 908,964 shares of the company's stock, valued at approximately $14,807,023.56. This trade represents a 2.32% 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 499,046 shares of company stock worth $7,959,131 over the last quarter. Company insiders own 1.70% of the company's stock.

SailPoint Stock Down 0.1%

Shares of NASDAQ:SAIL opened at $19.19 on Thursday. The stock has a market cap of $10.88 billion, a PE ratio of -71.07, a PEG ratio of 2.13 and a beta of 2.08. The company's fifty day moving average is $15.67 and its 200 day moving average is $14.60. SailPoint, Inc. has a 52 week low of $10.30 and a 52 week high of $24.00.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly 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 business had revenue of $280.14 million during the quarter. During the same quarter in the previous year, the company earned $0.01 earnings per share. The business's quarterly revenue was up 21.5% on a year-over-year basis. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Sell-side analysts anticipate that SailPoint, Inc. will post 0.32 EPS for the current year.

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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