Vanguard Group Inc. Sells 131,368 Shares of SailPoint, Inc. $SAIL

Key Points

• Vanguard trimmed its SailPoint stake by 2.5% in the fourth quarter, selling 131,368 shares and ending with 5.19 million shares worth about $104.9 million.
• SailPoint shares fell 1.4% to $11.61, near the stock’s 12-month low of $10.30 and well below its 12-month high of $24.95.
• Analysts remain cautiously upbeat despite recent target cuts, with a consensus rating of “Moderate Buy” and an average price target of $21.35.

Vanguard Group Inc. decreased its holdings in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,186,421 shares of the company's stock after selling 131,368 shares during the quarter. Vanguard Group Inc. owned 0.92% of SailPoint worth $104,921,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SAIL. Aster Capital Management DIFC Ltd purchased a new position in SailPoint during the 3rd quarter valued at $31,000. State of Wyoming purchased a new position in SailPoint during the 2nd quarter valued at $45,000. CWM LLC boosted its holdings in 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 period. Farther Finance Advisors LLC increased its stake in SailPoint by 208.2% in the fourth quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company's stock worth $62,000 after purchasing an additional 2,074 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in SailPoint in the second quarter worth $79,000.

SailPoint Trading Down 1.4%

Shares of NASDAQ SAIL opened at $11.61 on Wednesday. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $24.95. The stock's fifty day simple moving average is $12.78 and its two-hundred day simple moving average is $16.58. The stock has a market capitalization of $6.59 billion, a PE ratio of -20.73 and a beta of 1.09.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, meeting 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 in the prior year, the company posted ($4.29) EPS. The business's revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts predict that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at SailPoint

In other SailPoint news, President Matt Mills sold 34,171 shares of SailPoint stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $391,599.66. Following the completion of the transaction, the president owned 2,451,334 shares in the company, valued at approximately $28,092,287.64. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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, CEO Mark D. Mcclain sold 92,874 shares of the firm's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $1,064,336.04. Following the sale, the chief executive officer owned 8,305,324 shares in the company, valued at $95,179,013.04. This trade represents a 1.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 three months, insiders have sold 526,962 shares of company stock worth $6,420,108. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

SAIL has been the topic of a number of recent analyst reports. Scotiabank reduced their target price on SailPoint from $24.00 to $16.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 19th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $23.00 target price on shares of SailPoint in a research note on Monday, March 23rd. Truist Financial reduced their target price on SailPoint from $23.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, March 19th. JPMorgan Chase & Co. reduced their target price on SailPoint from $26.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Finally, Barclays reduced their target price on SailPoint from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, SailPoint presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.35.

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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