SailPoint, Inc. $SAIL Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of SailPoint, Inc. (NASDAQ:SAIL) by 215.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,616 shares of the company’s stock after acquiring an additional 65,329 shares during the quarter. JPMorgan Chase & Co.’s holdings in SailPoint were worth $2,111,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SAIL. Aster Capital Management DIFC Ltd acquired a new position in shares of SailPoint during the 3rd quarter worth about $31,000. State of Wyoming acquired a new position in shares of SailPoint during the 2nd quarter worth about $45,000. BNP Paribas Financial Markets acquired a new position in shares of SailPoint during the 2nd quarter worth about $79,000. California State Teachers Retirement System acquired a new position in shares of SailPoint during the 2nd quarter worth about $87,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of SailPoint during the 3rd quarter worth about $133,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on SAIL shares. BTIG Research lowered their price objective on SailPoint from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Robert W. Baird decreased their target price on SailPoint from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 target price on shares of SailPoint in a research report on Monday, March 23rd. Mizuho decreased their target price on SailPoint from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Finally, Scotiabank decreased their target price on SailPoint from $24.00 to $16.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, SailPoint currently has a consensus rating of “Moderate Buy” and an average price target of $21.35.

Insider Activity

In other news, General Counsel Christopher Schmitt sold 4,507 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $19.57, for a total transaction of $88,201.99. Following the completion of the transaction, the general counsel directly owned 1,043,319 shares of the company’s stock, valued at approximately $20,417,752.83. This represents a 0.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Chandrasekar Gnanasambandam sold 4,245 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $19.57, for a total value of $83,074.65. Following the transaction, the executive vice president directly owned 517,351 shares of the company’s stock, valued at approximately $10,124,559.07. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 224,070 shares of company stock worth $4,421,596 over the last quarter. 2.00% of the stock is owned by insiders.

SailPoint Stock Up 0.9%

SAIL opened at $13.11 on Tuesday. The business has a 50 day moving average price of $14.41 and a two-hundred day moving average price of $18.39. The company has a market cap of $7.39 billion, a PE ratio of -23.41 and a beta of 2.38. SailPoint, Inc. has a 52 week low of $11.52 and a 52 week high of $24.95.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $294.65 million during the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The firm’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the company earned ($4.29) earnings per share.

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.