Tudor Investment Corp ET AL Reduces Holdings in SailPoint, Inc. $SAIL

Tudor Investment Corp ET AL decreased its holdings in SailPoint, Inc. (NASDAQ:SAIL) by 92.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,903 shares of the company’s stock after selling 181,441 shares during the quarter. Tudor Investment Corp ET AL’s holdings in SailPoint were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in shares of SailPoint in the third quarter worth approximately $133,000. Sender Co & Partners Inc. purchased a new position in shares of SailPoint in the third quarter worth approximately $860,000. XTX Topco Ltd purchased a new position in shares of SailPoint in the third quarter worth approximately $1,577,000. Verition Fund Management LLC boosted its holdings in shares of SailPoint by 70.0% in the third quarter. Verition Fund Management LLC now owns 112,378 shares of the company’s stock worth $2,481,000 after buying an additional 46,268 shares during the last quarter. Finally, Prelude Capital Management LLC purchased a new position in shares of SailPoint in the third quarter worth approximately $316,000.

Insider Activity

In other news, General Counsel Christopher Schmitt sold 18,813 shares of SailPoint stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $11.46, for a total transaction of $215,596.98. Following the sale, the general counsel owned 1,355,551 shares in the company, valued at $15,534,614.46. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, President Matt Mills sold 34,171 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $391,599.66. Following the completion of the sale, the president owned 2,451,334 shares in the company, valued at $28,092,287.64. This represents a 1.37% decrease in their position. 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 90 days, insiders have sold 526,962 shares of company stock valued at $6,420,108. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of SailPoint in a report on Monday, December 29th. Mizuho dropped their price objective on shares of SailPoint from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their price target on shares of SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Finally, Royal Bank Of Canada lowered their price target on shares of SailPoint from $23.00 to $19.00 and set an “outperform” rating on the stock in a report 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 assigned a Sell rating to the company’s stock. According to MarketBeat, SailPoint currently has an average rating of “Moderate Buy” and an average target price of $21.35.

SailPoint Price Performance

SailPoint stock opened at $11.69 on Friday. The stock has a market cap of $6.59 billion, a P/E ratio of -20.87 and a beta of 2.38. SailPoint, Inc. has a 1 year low of $10.30 and a 1 year high of $24.95. The firm’s 50 day moving average price is $13.73 and its 200-day moving average price is $17.84.

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, meeting the consensus estimate of $0.08. The firm had revenue of $294.65 million for the quarter. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($4.29) EPS.

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.