SailPoint, Inc. $SAIL Stake Boosted by Bank of America Corp DE

Key Points

• Bank of America increased its SailPoint stake by 40.1% in the first quarter, acquiring 504,726 additional shares and bringing its holdings to 1.76 million shares valued at approximately $23.4 million.
• Analysts maintain a generally positive view of SailPoint, with a consensus rating of “Moderate Buy” and an average price target of $20.08. Recent targets range from $16 to $23.
• SailPoint reported quarterly revenue of $280.1 million, up 21.5% year over year, and earnings of $0.05 per share, exceeding estimates. Meanwhile, insiders sold shares primarily to cover tax obligations under pre-arranged trading plans.

Bank of America Corp DE lifted its stake in SailPoint, Inc. (NASDAQ:SAIL - Free Report) by 40.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,764,870 shares of the company's stock after acquiring an additional 504,726 shares during the quarter. Bank of America Corp DE owned approximately 0.31% of SailPoint worth $23,367,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SAIL shares. Wolfe Research restated an "outperform" rating and issued a $18.00 target price on shares of SailPoint in a report on Wednesday, June 10th. Weiss Ratings upgraded SailPoint from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. Mizuho set a $16.00 price target on SailPoint in a report on Wednesday, June 10th. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price target on shares of SailPoint in a research report on Wednesday, June 17th. Finally, Scotiabank restated a "sector outperform" rating and issued a $19.00 price objective (up from $16.00) on shares of SailPoint in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.08.

Insider Activity at SailPoint

In related news, CEO Mark D. Mcclain sold 93,260 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $1,438,069.20. Following the completion of the transaction, the chief executive officer directly owned 8,093,870 shares in the company, valued at approximately $124,807,475.40. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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, insider Abby Payne sold 16,999 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $262,124.58. Following the completion of the transaction, the insider directly owned 891,965 shares of the company's stock, valued at approximately $13,754,100.30. This trade represents a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold 499,046 shares of company stock worth $7,959,131 in the last three months. Company insiders own 1.70% of the company's stock.

SailPoint Trading Down 4.8%

Shares of SAIL stock opened at $18.59 on Tuesday. The firm has a market capitalization of $10.54 billion, a P/E ratio of -68.85, a price-to-earnings-growth ratio of 2.17 and a beta of 2.07. SailPoint, Inc. has a 1 year low of $10.30 and a 1 year high of $24.00. The firm's fifty day simple moving average is $15.51 and its 200 day simple moving average is $14.56.

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 firm had revenue of $280.14 million during the quarter. During the same period last year, the company earned $0.01 earnings per share. SailPoint'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. Equities research analysts anticipate that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

SailPoint 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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