Oppenheimer Asset Management Inc. Makes New $2.76 Million Investment in SailPoint, Inc. $SAIL

Key Points

• Oppenheimer Asset Management initiated a $2.76 million SailPoint position by purchasing 188,779 shares in the second quarter, joining several other institutions that recently increased their holdings.
• Analysts maintain a generally positive outlook, with SailPoint receiving a “Moderate Buy” consensus rating and an average price target of $20.08.
• SailPoint’s latest quarterly revenue rose 21.5% year over year to $280.14 million, while EPS of $0.05 exceeded estimates. However, insiders sold roughly 499,000 shares worth $7.96 million over the past three months.

Oppenheimer Asset Management Inc. bought a new stake in SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 188,779 shares of the company's stock, valued at approximately $2,764,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SAIL. Palladiem LLC purchased a new stake in shares of SailPoint during the fourth quarter worth approximately $42,000. Kestra Advisory Services LLC purchased a new position in SailPoint in the 4th quarter valued at $42,000. State of Wyoming purchased a new position in SailPoint in the 2nd quarter valued at $45,000. CWM LLC grew its position in SailPoint by 315.6% in the 4th quarter. CWM LLC now owns 2,656 shares of the company's stock valued at $54,000 after buying an additional 2,017 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in SailPoint by 208.2% in the 4th quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company's stock valued at $62,000 after buying an additional 2,074 shares during the period.

Insider Buying and Selling at SailPoint

In other news, CAO Mitra Rezvan sold 3,881 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $59,845.02. Following the sale, the chief accounting officer owned 182,641 shares of the company's stock, valued at $2,816,324.22. The trade was a 2.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $709,350.84. Following the completion of the sale, the chief financial officer owned 1,707,742 shares in the company, valued at approximately $26,333,381.64. This 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. Over the last three months, insiders have sold 499,046 shares of company stock worth $7,959,131. Corporate insiders own 1.70% of the company's stock.

Analyst Ratings Changes

SAIL has been the topic of a number of recent analyst reports. Bank of America reiterated a "neutral" rating and set a $16.00 price target on shares of SailPoint in a research note on Friday, June 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price objective on shares of SailPoint in a report on Wednesday, June 17th. Roth Capital initiated coverage on SailPoint in a research report on Wednesday, May 20th. They set a "buy" rating and a $19.00 target price on the stock. TD Cowen reissued a "buy" rating on shares of SailPoint in a research note on Wednesday, June 17th. Finally, Truist Financial set a $18.00 price target on SailPoint in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SailPoint has an average rating of "Moderate Buy" and a consensus price target of $20.08.

SailPoint Stock Down 2.3%

Shares of SAIL opened at $19.53 on Friday. SailPoint, Inc. has a 52-week low of $10.30 and a 52-week high of $24.00. The company has a 50-day simple moving average of $15.49 and a 200-day simple moving average of $14.58. The company has a market capitalization of $11.08 billion, a PE ratio of -72.33, a P/E/G ratio of 2.17 and a beta of 2.08.

SailPoint (NASDAQ:SAIL - Get Free Report) last released its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, topping 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 firm had revenue of $280.14 million for the quarter. During the same period in the prior year, the firm posted $0.01 EPS. The firm'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. On average, research 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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