Phoenix Financial Ltd. Makes New $4.32 Million Investment in SailPoint, Inc. (NASDAQ:SAIL)

Key Points

• Phoenix Financial Ltd. invested approximately $4.32 million in SailPoint, acquiring 230,443 shares in the first quarter, indicating institutional interest in the cybersecurity company.
• Several hedge funds, including Allianz Asset Management and Stephens Investment Management Group, have also established new positions in SailPoint, highlighting growing investment activity surrounding the stock.
• Analyst ratings for SailPoint show a consensus of "Moderate Buy" with a price target of $25.47, as reports from firms like Wells Fargo and Cantor Fitzgerald suggest optimism for future stock performance.

Phoenix Financial Ltd. bought a new stake in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 230,443 shares of the company's stock, valued at approximately $4,321,000.

Several other institutional investors have also made changes to their positions in SAIL. Assetmark Inc. acquired a new position in SailPoint in the first quarter valued at about $32,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in SailPoint in the first quarter valued at about $1,683,000. GW&K Investment Management LLC acquired a new position in SailPoint in the first quarter valued at about $2,173,000. Allianz Asset Management GmbH acquired a new position in SailPoint in the first quarter valued at about $3,496,000. Finally, Stephens Investment Management Group LLC acquired a new position in SailPoint in the first quarter valued at about $23,213,000.

SailPoint Price Performance

Shares of SAIL traded up $0.37 on Wednesday, reaching $22.05. 2,782,905 shares of the company's stock were exchanged, compared to its average volume of 2,010,754. The stock's 50 day simple moving average is $20.69. SailPoint, Inc. has a 12 month low of $15.05 and a 12 month high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The business had revenue of $230.47 million for the quarter, compared to the consensus estimate of $225.18 million. SailPoint's revenue for the quarter was up 22.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

SAIL has been the topic of a number of recent analyst reports. Arete initiated coverage on shares of SailPoint in a research report on Monday, July 7th. They issued a "sell" rating and a $16.00 price target on the stock. Barclays boosted their price target on shares of SailPoint from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. upped their target price on shares of SailPoint from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. The Goldman Sachs Group reiterated a "neutral" rating on shares of SailPoint in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $29.00 target price (up from $27.00) on shares of SailPoint in a research report on Thursday, June 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.47.

SailPoint Company Profile

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.