JPMorgan Chase & Co. Raises Holdings in SailPoint, Inc. $SAIL

JPMorgan Chase & Co. lifted its holdings in shares of SailPoint, Inc. (NASDAQ:SAIL) by 215.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,616 shares of the company’s stock after buying an additional 65,329 shares during the period. JPMorgan Chase & Co.’s holdings in SailPoint were worth $2,111,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. FNY Investment Advisers LLC purchased a new position in shares of SailPoint during the 3rd quarter worth approximately $133,000. Sender Co & Partners Inc. purchased a new position in SailPoint in the 3rd quarter valued at approximately $860,000. XTX Topco Ltd purchased a new position in SailPoint in the 3rd quarter valued at approximately $1,577,000. Verition Fund Management LLC increased its stake in SailPoint by 70.0% in the 3rd quarter. Verition Fund Management LLC now owns 112,378 shares of the company’s stock valued at $2,481,000 after purchasing an additional 46,268 shares in the last quarter. Finally, Prelude Capital Management LLC purchased a new position in SailPoint in the 3rd quarter valued at approximately $316,000.

Insider Buying and Selling at SailPoint

In related news, EVP Chandrasekar Gnanasambandam sold 4,245 shares of SailPoint stock in a transaction 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 owned 517,351 shares in the company, valued at approximately $10,124,559.07. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark D. Mcclain sold 52,799 shares of SailPoint stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $19.57, for a total value of $1,033,276.43. Following the completion of the transaction, the chief executive officer owned 7,034,417 shares in the company, valued at $137,663,540.69. The trade was a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 224,070 shares of company stock valued at $4,421,596. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on SAIL shares. JPMorgan Chase & Co. dropped their price objective on SailPoint from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. BTIG Research dropped their price objective on SailPoint from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Royal Bank Of Canada dropped their price objective on SailPoint from $23.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SailPoint in a research note on Monday, December 29th. Finally, FBN Securities started coverage on SailPoint in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SailPoint has a consensus rating of “Moderate Buy” and a consensus target price of $21.35.

SailPoint Stock Up 0.9%

SAIL stock opened at $13.11 on Tuesday. SailPoint, Inc. has a 52-week low of $11.52 and a 52-week high of $24.95. The stock’s fifty day simple moving average is $14.41 and its 200-day simple moving average is $18.39. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of -23.41 and a beta of 2.38.

SailPoint (NASDAQ:SAIL) last posted 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 business had revenue of $294.65 million for the quarter. During the same quarter last year, the business earned ($4.29) EPS. SailPoint’s revenue for the quarter was up 22.9% compared to the same quarter last year.

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.