Wasatch Advisors LP Makes New $66.17 Million Investment in SailPoint, Inc. $SAIL

Key Points

• Wasatch Advisors LP acquired 4.52 million SailPoint shares worth approximately $66.17 million, representing about 0.80% of the company.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a $19.94 price target; ratings include 17 Buys, five Holds, one Strong Buy and one Sell.
• SailPoint reported quarterly revenue of $280.14 million, up 21.5% year over year, and earnings of $0.05 per share, beating estimates by $0.01. Insiders sold nearly 498,000 shares worth $7.93 million during the last quarter, primarily under tax-related 10b5-1 plans.

Wasatch Advisors LP acquired a new stake in SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,519,996 shares of the company's stock, valued at approximately $66,173,000. Wasatch Advisors LP owned about 0.80% of SailPoint at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Palladiem LLC purchased a new stake in shares of SailPoint during the fourth quarter worth about $42,000. Kestra Advisory Services LLC acquired a new position in shares of SailPoint in the fourth quarter worth about $42,000. State of Wyoming purchased a new position in SailPoint in the second quarter valued at about $45,000. CWM LLC boosted its holdings in SailPoint by 315.6% in the fourth quarter. CWM LLC now owns 2,656 shares of the company's stock valued at $54,000 after purchasing an additional 2,017 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in SailPoint by 208.2% during the 4th quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company's stock valued at $62,000 after purchasing an additional 2,074 shares in the last quarter.

Analyst Upgrades and Downgrades

SAIL has been the topic of several analyst reports. Mizuho set a $16.00 price objective on SailPoint in a report on Wednesday, June 10th. Royal Bank Of Canada reiterated an "outperform" rating and set a $19.00 target price on shares of SailPoint in a research note on Wednesday, June 17th. Rosenblatt Securities began coverage on shares of SailPoint in a research report on Wednesday, July 8th. They set a "neutral" rating and a $16.00 price target for the company. BTIG Research restated a "buy" rating and issued a $18.00 price target on shares of SailPoint in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company upped their price target on shares of SailPoint from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.94.

Insider Buying and Selling

In other news, General Counsel Christopher Schmitt sold 23,940 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $389,982.60. Following the completion of the sale, the general counsel directly owned 1,331,611 shares in the company, valued at approximately $21,691,943.19. The trade was a 1.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, insider Abby Payne sold 21,542 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total value of $350,919.18. Following the sale, the insider directly owned 908,964 shares in the company, valued at approximately $14,807,023.56. This represents a 2.32% 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 have sold 497,832 shares of company stock worth $7,934,851. 1.70% of the stock is currently owned by insiders.

SailPoint Stock Performance

NASDAQ:SAIL opened at $19.06 on Wednesday. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of -70.59, a price-to-earnings-growth ratio of 2.16 and a beta of 2.08. SailPoint, Inc. has a one year low of $10.30 and a one year high of $24.00. The stock has a 50-day simple moving average of $15.43 and a 200 day simple moving average of $14.52.

SailPoint (NASDAQ:SAIL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The firm had revenue of $280.14 million during the quarter. During the same period in the prior year, the firm earned $0.01 earnings per share. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, equities research analysts forecast that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

About SailPoint

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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