The Manufacturers Life Insurance Company Buys 67,601 Shares of SailPoint, Inc. $SAIL

The Manufacturers Life Insurance Company boosted its stake in shares of SailPoint, Inc. (NASDAQ:SAIL) by 178.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,497 shares of the company’s stock after buying an additional 67,601 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in SailPoint were worth $1,397,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Palladiem LLC acquired a new stake in shares of SailPoint in the fourth quarter valued at about $42,000. Kestra Advisory Services LLC acquired a new position in shares of SailPoint in the fourth quarter worth approximately $42,000. State of Wyoming bought a new stake in SailPoint in the second quarter valued at approximately $45,000. CWM LLC increased its position 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 purchasing an additional 2,017 shares during the period. Finally, Farther Finance Advisors LLC increased its position 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 during the period.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SAIL shares. Barclays dropped their price target on shares of SailPoint from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $19.00 target price on shares of SailPoint in a research note on Wednesday, June 17th. BTIG Research restated a “buy” rating and issued a $18.00 target price on shares of SailPoint in a report on Tuesday, June 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of SailPoint in a research report on Wednesday, June 17th. Finally, Bank of America reiterated a “neutral” rating and set a $16.00 price target on shares of SailPoint in a report on Friday, June 12th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.94.

Insider Activity

In other news, insider Abby Payne sold 16,999 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $262,124.58. Following the transaction, the insider directly owned 891,965 shares of the company’s stock, valued at $13,754,100.30. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, EVP Chandrasekar Gnanasambandam sold 19,540 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $301,306.80. Following the transaction, the executive vice president directly owned 934,508 shares in the company, valued at $14,410,113.36. The trade was a 2.05% 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. Over the last 90 days, insiders have sold 497,832 shares of company stock valued at $7,934,851. Corporate insiders own 1.70% of the company’s stock.

SailPoint Price Performance

Shares of SAIL opened at $19.41 on Tuesday. The stock has a 50-day moving average of $15.45 and a 200-day moving average of $14.51. The company has a market cap of $11.01 billion, a PE ratio of -71.89, a P/E/G ratio of 2.07 and a beta of 2.07. SailPoint, Inc. has a one year low of $10.30 and a one year high of $24.00.

SailPoint (NASDAQ:SAIL) last issued its earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating 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 business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous 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. Analysts expect that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

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.