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

Key Points

• NewEdge Wealth acquired 113,896 SailPoint shares worth approximately $1.51 million in the first quarter. Several other institutional investors, including Goldman Sachs and JPMorgan Chase, also initiated positions.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $20.08, compared with the stock’s reported opening price of $14.95.
• SailPoint exceeded quarterly earnings expectations and posted 21.5% year-over-year revenue growth to $280.14 million, though the company remained unprofitable; insiders sold nearly 498,000 shares worth about $7.93 million over the past three months.

NewEdge Wealth LLC bought a new position in SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 113,896 shares of the company's stock, valued at approximately $1,508,000.

A number of other hedge funds have also made changes to their positions in the company. Royal Bank of Canada bought a new position in SailPoint during the 1st quarter valued at about $1,146,000. Goldman Sachs Group Inc. bought a new stake in SailPoint during the first quarter worth about $7,546,000. JPMorgan Chase & Co. bought a new stake in SailPoint during the second quarter worth about $692,000. Rhumbline Advisers bought a new stake in SailPoint during the second quarter worth about $1,047,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of SailPoint during the second quarter worth approximately $572,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wolfe Research reissued an "outperform" rating and issued a $18.00 target price on shares of SailPoint in a report on Wednesday, June 10th. Roth Capital assumed coverage on SailPoint in a report on Wednesday, May 20th. They set a "buy" rating and a $19.00 price target for the company. BTIG Research reiterated a "buy" rating and issued a $18.00 price objective on shares of SailPoint in a research report on Tuesday, June 9th. Truist Financial set a $18.00 price objective on SailPoint in a research note on Wednesday, June 17th. Finally, Wells Fargo & Company increased their target price on SailPoint from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.08.

Insider Transactions at SailPoint

In other news, President Matt Mills sold 43,485 shares of the business's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $708,370.65. Following the completion of the sale, the president owned 2,407,849 shares in the company, valued at $39,223,860.21. The trade was a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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, CFO Brian Carolan sold 46,002 shares of the company's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $709,350.84. Following the transaction, the chief financial officer directly owned 1,707,742 shares in the company, valued at $26,333,381.64. This trade represents a 2.62% 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. In the last three months, insiders sold 497,832 shares of company stock worth $7,934,851. Corporate insiders own 1.70% of the company's stock.

SailPoint Stock Performance

Shares of SAIL stock opened at $14.95 on Monday. SailPoint, Inc. has a 1 year low of $10.30 and a 1 year high of $24.00. The firm's 50 day moving average is $15.21 and its 200-day moving average is $14.66. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of -55.37, a PEG ratio of 1.66 and a beta of 2.20.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the business earned $0.01 EPS. The business's revenue for the quarter 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. On average, equities research analysts forecast that SailPoint, Inc. will post 0.33 earnings per share for the current fiscal 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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