Zurcher Kantonalbank Zurich Cantonalbank Takes $910,000 Position in SailPoint, Inc. $SAIL

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in SailPoint, Inc. (NASDAQ:SAIL) in the 4th quarter, Holdings Channel reports. The firm acquired 44,979 shares of the company’s stock, valued at approximately $910,000.

Several other hedge funds also recently modified their holdings of SAIL. Aster Capital Management DIFC Ltd acquired a new position in SailPoint in the 3rd quarter valued at approximately $31,000. State of Wyoming acquired a new position in SailPoint in the 2nd quarter valued at approximately $45,000. CWM LLC grew its holdings in shares of SailPoint by 315.6% during the 4th quarter. CWM LLC now owns 2,656 shares of the company’s stock worth $54,000 after purchasing an additional 2,017 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of SailPoint by 208.2% during the 4th quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company’s stock worth $62,000 after purchasing an additional 2,074 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of SailPoint during the 2nd quarter worth approximately $79,000.

SailPoint Price Performance

SAIL opened at $11.42 on Friday. The firm’s fifty day moving average price is $12.99 and its two-hundred day moving average price is $17.09. SailPoint, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $24.95. The company has a market capitalization of $6.48 billion, a P/E ratio of -20.39 and a beta of 2.38.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter. During the same quarter in the prior year, the company earned ($4.29) earnings per share. The business’s revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts expect that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity

In other SailPoint news, CFO Brian Carolan sold 47,444 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $543,708.24. Following the completion of the transaction, the chief financial officer directly owned 1,786,212 shares in the company, valued at $20,469,989.52. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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, General Counsel Christopher Schmitt sold 18,813 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $215,596.98. Following the transaction, the general counsel owned 1,355,551 shares of the company’s stock, valued at $15,534,614.46. This represents a 1.37% 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. Over the last ninety days, insiders sold 526,962 shares of company stock valued at $6,420,108. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on SAIL. TD Cowen reduced their target price on SailPoint from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Truist Financial decreased their price target on shares of SailPoint from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. FBN Securities started coverage on shares of SailPoint in a research note on Tuesday, February 24th. They set an “outperform” rating and a $18.00 price target on the stock. Royal Bank Of Canada decreased their price target on shares of SailPoint from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Finally, Robert W. Baird decreased their price target on shares of SailPoint from $26.00 to $22.00 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 given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, SailPoint has a consensus rating of “Moderate Buy” and a consensus target price of $21.35.

SailPoint 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.