Truist Financial Corp Has $849,000 Stake in SailPoint, Inc. $SAIL

Key Points

• Truist Financial cut its SailPoint stake by 76.6% in the fourth quarter, leaving it with 41,976 shares valued at about $849,000.
• Several major investors remain heavily invested in SailPoint, while insiders were active sellers: CFO Brian Carolan and EVP Chandrasekar Gnanasambandam both sold shares in April, and insiders sold 526,962 shares last quarter.
• SailPoint reported quarterly EPS of $0.08 on revenue of $294.65 million, with revenue up 22.9% year over year; analysts still rate the stock a Moderate Buy with a consensus target of $21.25.

Truist Financial Corp decreased its holdings in SailPoint, Inc. (NASDAQ:SAIL - Free Report) by 76.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,976 shares of the company's stock after selling 137,122 shares during the period. Truist Financial Corp's holdings in SailPoint were worth $849,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of SailPoint by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company's stock valued at $117,417,000 after purchasing an additional 219,375 shares during the period. UBS Group AG raised its stake in shares of SailPoint by 116.3% during the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company's stock worth $91,147,000 after purchasing an additional 2,219,593 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of SailPoint by 34.3% during the 3rd quarter. GW&K Investment Management LLC now owns 3,395,602 shares of the company's stock worth $74,975,000 after purchasing an additional 866,889 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of SailPoint by 1.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,869,273 shares of the company's stock worth $63,359,000 after purchasing an additional 49,718 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of SailPoint by 20.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,680,131 shares of the company's stock worth $59,177,000 after purchasing an additional 464,098 shares in the last quarter.

Insider Transactions at SailPoint

In related news, CFO Brian Carolan sold 47,444 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $543,708.24. Following the completion of the sale, the chief financial officer directly owned 1,786,212 shares in the company, valued at approximately $20,469,989.52. The trade was a 2.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, EVP Chandrasekar Gnanasambandam sold 20,082 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $230,139.72. Following the completion of the sale, the executive vice president owned 968,926 shares of the company's stock, valued at approximately $11,103,891.96. This trade represents a 2.03% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 526,962 shares of company stock worth $6,420,108. 1.70% of the stock is currently owned by company insiders.

SailPoint Stock Performance

Shares of NASDAQ SAIL opened at $13.50 on Monday. The business has a 50 day simple moving average of $12.70 and a 200 day simple moving average of $16.37. SailPoint, Inc. has a 52 week low of $10.30 and a 52 week high of $24.95. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of -24.11 and a beta of 1.09.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The firm had revenue of $294.65 million during the quarter. During the same quarter last year, the firm posted ($4.29) earnings per share. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. On average, analysts predict that SailPoint, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company lowered their price target on SailPoint from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, March 19th. BTIG Research lowered their price target on SailPoint from $22.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, March 19th. Barclays lowered their price target on SailPoint from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 16th. Scotiabank lowered their price target on SailPoint from $24.00 to $16.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 19th. Finally, Truist Financial lowered their price target on SailPoint from $23.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

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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