TD Asset Management Inc Invests $3.65 Million in SailPoint, Inc. (NASDAQ:SAIL)

Key Points

• TD Asset Management Inc acquired 194,840 shares of SailPoint, Inc., valued at approximately $3,653,000, marking a significant investment during the first quarter.
• SailPoint's stock has a 52-week range of $15.05 to $26.35, with an opening price of $20.62, reflecting its price performance amidst recent acquisitions.
• The company reported earnings of $0.01 per share, exceeding the expectations of analysts, with a revenue increase of 22.8% year-over-year for the quarter.

TD Asset Management Inc purchased a new position in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 194,840 shares of the company's stock, valued at approximately $3,653,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Phoenix Financial Ltd. bought a new position in shares of SailPoint during the 1st quarter worth approximately $4,321,000. Assetmark Inc. acquired a new position in shares of SailPoint during the first quarter worth approximately $32,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of SailPoint during the first quarter worth approximately $1,683,000. GW&K Investment Management LLC acquired a new position in shares of SailPoint during the first quarter worth approximately $2,173,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of SailPoint during the first quarter worth approximately $3,496,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SAIL shares. Morgan Stanley lowered their target price on SailPoint from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Arete started coverage on SailPoint in a research report on Monday, July 7th. They set a "sell" rating and a $16.00 target price on the stock. Royal Bank Of Canada reaffirmed 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. BMO Capital Markets upped their target price on SailPoint from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Wells Fargo & Company upped their target price on SailPoint from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.47.

SailPoint Price Performance

NASDAQ:SAIL traded down $1.72 during trading on Friday, reaching $20.62. The company's stock had a trading volume of 3,467,976 shares, compared to its average volume of 2,121,512. The company has a 50 day simple moving average of $20.96. 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 announced its quarterly earnings data on Wednesday, June 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The business had revenue of $230.47 million during the quarter, compared to the consensus estimate of $225.18 million. The business's revenue was up 22.8% on a year-over-year basis.

About SailPoint

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.