Renaissance Technologies LLC Purchases Shares of 393,800 SailPoint, Inc. $SAIL

Key Points

• Renaissance Technologies acquired 393,800 SailPoint shares worth approximately $5.2 million, joining other institutional investors that recently increased or initiated positions in the company.
• SailPoint reported quarterly EPS of $0.05, beating estimates by $0.01, while revenue rose 21.5% year over year to $280.14 million. The stock traded at $17.84, up 2.5%.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $19.94, although some firms remain neutral. Insiders sold roughly $7.9 million in shares over the past 90 days, primarily through pre-arranged plans to cover tax obligations.

Renaissance Technologies LLC purchased a new position in SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 393,800 shares of the company's stock, valued at approximately $5,214,000. Renaissance Technologies LLC owned about 0.07% of SailPoint at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of SailPoint in the fourth quarter valued at about $234,681,000. OFI Invest Asset Management increased its stake in SailPoint by 79.6% during the fourth quarter. OFI Invest Asset Management now owns 905,653 shares of the company's stock valued at $18,321,000 after acquiring an additional 401,431 shares during the period. Stephens Investment Management Group LLC raised its holdings in SailPoint by 14.2% in the 4th 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in SailPoint in the 4th quarter valued at approximately $910,000. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of SailPoint in the 4th quarter worth approximately $8,041,000.

SailPoint Trading Up 2.5%

NASDAQ SAIL opened at $17.84 on Thursday. The stock's 50 day moving average is $15.42 and its two-hundred day moving average is $14.50. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of -66.07, a PEG ratio of 1.93 and a beta of 2.08. SailPoint, Inc. has a 1-year low of $10.30 and a 1-year high of $24.00.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The business had revenue of $280.14 million during the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. 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, analysts predict that SailPoint, Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $19.00 price objective on shares of SailPoint in a report on Wednesday, June 17th. BMO Capital Markets restated an "outperform" rating on shares of SailPoint in a research note on Wednesday, June 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $19.00 target price on shares of SailPoint in a research report on Wednesday, June 10th. Wolfe Research reiterated an "outperform" rating and set a $18.00 price target on shares of SailPoint in a research note on Wednesday, June 10th. Finally, Bank of America reissued a "neutral" rating and issued a $16.00 price target on shares of SailPoint in a report on Friday, June 12th. One research 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.94.

Insider Transactions at SailPoint

In other news, CAO Mitra Rezvan sold 3,881 shares of the business'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 $59,845.02. Following the sale, the chief accounting officer owned 182,641 shares in the company, valued at approximately $2,816,324.22. The trade was a 2.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, insider Abby Payne sold 16,999 shares of the company's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $262,124.58. Following the completion of the sale, the insider directly owned 891,965 shares in the company, valued at approximately $13,754,100.30. The trade was a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 ninety days, insiders sold 497,832 shares of company stock valued at $7,934,851. 1.70% of the stock is owned by insiders.

SailPoint Company Profile

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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