Universal Beteiligungs und Servicegesellschaft mbH Makes New $1.68 Million Investment in SailPoint, Inc. (NASDAQ:SAIL)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 89,784 shares of SailPoint, Inc. valued at approximately $1.68 million as reported in its recent SEC filing.
• Several analysts have upgraded their price targets for SailPoint, with an average target price of $25.47, indicating a consensus rating of "Moderate Buy".
• SailPoint's stock traded down 7.7% to $20.62, despite reporting a quarterly revenue increase of 22.8% year-over-year.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 89,784 shares of the company's stock, valued at approximately $1,683,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. GW&K Investment Management LLC acquired a new position in shares of SailPoint during the 1st quarter valued at $2,173,000. Allianz Asset Management GmbH acquired a new position in shares of SailPoint in the 1st quarter worth $3,496,000. Finally, Stephens Investment Management Group LLC acquired a new position in shares of SailPoint in the 1st quarter worth $23,213,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SAIL shares. The Goldman Sachs Group restated a "neutral" rating on shares of SailPoint in a report on Wednesday, June 11th. Mizuho lifted their target price on SailPoint from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Morgan Stanley decreased their target price on SailPoint from $26.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets lifted their target price on SailPoint from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Finally, Arete Research upgraded SailPoint to a "strong sell" rating and set a $16.00 target price on the stock in a report on Monday, July 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.47.

SailPoint Trading Down 4.6%

SAIL traded down $0.94 during trading on Tuesday, reaching $19.66. 932,509 shares of the stock traded hands, compared to its average volume of 2,052,241. SailPoint, Inc. has a fifty-two week low of $15.05 and a fifty-two week high of $26.35. The firm's 50-day moving average price is $21.03.

SailPoint (NASDAQ:SAIL - Get Free Report) last released 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 firm had revenue of $230.47 million for the quarter, compared to analyst estimates of $225.18 million. SailPoint's revenue for the quarter was up 22.8% compared to the same quarter last year.

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.