Allspring Global Investments Holdings LLC Purchases 255,720 Shares of SailPoint, Inc. $SAIL

Allspring Global Investments Holdings LLC raised its position in SailPoint, Inc. (NASDAQ:SAIL) by 22.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,412,578 shares of the company’s stock after purchasing an additional 255,720 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.25% of SailPoint worth $26,768,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. SG Americas Securities LLC lifted its stake in shares of SailPoint by 9.0% during the 4th quarter. SG Americas Securities LLC now owns 31,199 shares of the company’s stock worth $631,000 after acquiring an additional 2,571 shares during the last quarter. Maridea Wealth Management LLC bought a new stake in shares of SailPoint during the fourth quarter worth $1,816,000. JPMorgan Chase & Co. lifted its position in shares of SailPoint by 215.7% during the third quarter. JPMorgan Chase & Co. now owns 95,616 shares of the company’s stock worth $2,111,000 after purchasing an additional 65,329 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of SailPoint during the third quarter valued at $133,000. Finally, Sender Co & Partners Inc. purchased a new stake in shares of SailPoint during the third quarter valued at $860,000.

Insider Buying and Selling

In other news, CFO Brian Carolan sold 30,638 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $19.57, for a total transaction of $599,585.66. Following the sale, the chief financial officer owned 1,277,795 shares of the company’s stock, valued at $25,006,448.15. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Matt Mills sold 21,345 shares of SailPoint stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total transaction of $410,464.35. Following the transaction, the president directly owned 1,882,913 shares of the company’s stock, valued at approximately $36,208,416.99. This trade represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 354,243 shares of company stock valued at $6,924,823 in the last ninety days. Insiders own 2.00% of the company’s stock.

SailPoint Price Performance

Shares of NASDAQ:SAIL opened at $12.99 on Friday. SailPoint, Inc. has a 52-week low of $11.52 and a 52-week high of $24.95. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of -23.20 and a beta of 2.38. The business has a 50-day moving average price of $14.51 and a 200-day moving average price of $18.49.

SailPoint (NASDAQ:SAIL) last issued its earnings results on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter. During the same quarter in the prior year, the company earned ($4.29) EPS. SailPoint’s quarterly revenue was up 22.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SAIL shares. Mizuho reduced their price target on shares of SailPoint from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. JPMorgan Chase & Co. dropped their target price on shares of SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. BTIG Research reduced their target price on shares of SailPoint from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Barclays decreased their price target on shares of SailPoint from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Finally, Royal Bank Of Canada dropped their price objective on SailPoint from $23.00 to $19.00 and set an “outperform” rating on the stock 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, SailPoint presently has a consensus rating of “Moderate Buy” and an average 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.