Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 89,784 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 position in SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 89,784 shares of the company's stock, valued at approximately $1,683,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SAIL. GW&K Investment Management LLC bought a new stake in shares of SailPoint during the first quarter valued at approximately $2,173,000. Allianz Asset Management GmbH bought a new stake in shares of SailPoint during the first quarter valued at approximately $3,496,000. Finally, Stephens Investment Management Group LLC bought a new stake in shares of SailPoint during the first quarter valued at approximately $23,213,000.

SailPoint Stock Down 7.7%

Shares of SAIL traded down $1.72 during trading hours on Friday, hitting $20.62. 3,467,976 shares of the stock traded hands, compared to its average volume of 1,948,066. SailPoint, Inc. has a 1-year low of $15.05 and a 1-year high of $26.35. The firm has a fifty day simple moving average of $20.96.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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. The firm's revenue was up 22.8% compared to the same quarter last year.

Analyst Ratings Changes

A number of research firms have recently issued reports on SAIL. Royal Bank Of Canada restated an "outperform" rating and set a $29.00 price objective (up from $27.00) on shares of SailPoint in a research report on Thursday, June 12th. The Goldman Sachs Group reiterated a "neutral" rating on shares of SailPoint in a research report on Wednesday, June 11th. JPMorgan Chase & Co. upped their price target on SailPoint from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Mizuho upped their price target on SailPoint from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Finally, Barclays upped their price target on SailPoint from $23.00 to $25.00 and gave the company an "overweight" 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.47.

SailPoint 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.