Freestone Grove Partners LP Invests $21.27 Million in SailPoint, Inc. $SAIL

Freestone Grove Partners LP purchased a new stake in shares of SailPoint, Inc. (NASDAQ:SAIL) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 1,452,613 shares of the company’s stock, valued at approximately $21,266,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State of Wyoming bought a new position in SailPoint in the 2nd quarter worth approximately $45,000. Palladiem LLC bought a new position in SailPoint in the 4th quarter valued at $42,000. Gables Capital Management Inc. bought a new position in SailPoint in the 2nd quarter valued at $29,000. Kestra Advisory Services LLC acquired a new stake in shares of SailPoint in the 4th quarter valued at $42,000. Finally, CWM LLC increased its stake in shares of SailPoint by 315.6% in the 4th quarter. CWM LLC now owns 2,656 shares of the company’s stock valued at $54,000 after buying an additional 2,017 shares during the period.

Insider Activity

In other news, insider Abby Payne sold 21,542 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $350,919.18. Following the completion of the sale, the insider directly owned 908,964 shares of the company’s stock, valued at $14,807,023.56. This represents a 2.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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, CFO Brian Carolan sold 46,002 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $709,350.84. Following the completion of the sale, the chief financial officer owned 1,707,742 shares in the company, valued at $26,333,381.64. This represents a 2.62% 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 90 days, insiders have sold 499,046 shares of company stock valued at $7,959,131. Insiders own 1.70% of the company’s stock.

SailPoint Stock Up 12.2%

SAIL stock opened at $20.45 on Friday. SailPoint, Inc. has a twelve month low of $10.30 and a twelve month high of $24.00. The company has a market cap of $11.60 billion, a P/E ratio of -75.74, a price-to-earnings-growth ratio of 1.91 and a beta of 2.08. The business’s fifty day moving average is $16.23 and its 200-day moving average is $14.75.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $280.14 million during the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Research analysts anticipate that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank reaffirmed a “sector outperform” rating and set a $19.00 price target (up from $16.00) on shares of SailPoint in a research note on Tuesday, June 9th. Wolfe Research reiterated an “outperform” rating and issued a $18.00 price objective on shares of SailPoint in a research report on Wednesday, June 10th. Barclays dropped their price objective on SailPoint from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. DA Davidson started coverage on shares of SailPoint in a research report on Monday, August 3rd. They set a “neutral” rating and a $17.00 target price on the stock. Finally, TD Cowen raised their target price on shares of SailPoint from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.26.

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.