Fortress Investment Group LLC Buys 250,000 Shares of SailPoint, Inc. $SAIL

Fortress Investment Group LLC grew its position in shares of SailPoint, Inc. (NASDAQ:SAIL) by 50.0% in the third quarter, Holdings Channel reports. The firm owned 750,000 shares of the company’s stock after purchasing an additional 250,000 shares during the period. SailPoint comprises approximately 2.2% of Fortress Investment Group LLC’s holdings, making the stock its 14th biggest position. Fortress Investment Group LLC’s holdings in SailPoint were worth $16,560,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of SailPoint by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company’s stock valued at $117,417,000 after buying an additional 219,375 shares in the last quarter. Norges Bank purchased a new stake in shares of SailPoint during the second quarter worth about $112,297,000. Voya Investment Management LLC grew its position in shares of SailPoint by 10.1% in the 3rd quarter. Voya Investment Management LLC now owns 4,309,070 shares of the company’s stock worth $95,144,000 after buying an additional 395,287 shares during the last quarter. UBS Group AG boosted its holdings in SailPoint by 116.3% in the third quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock valued at $91,147,000 after acquiring an additional 2,219,593 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in shares of SailPoint by 34.3% during the third quarter. GW&K Investment Management LLC now owns 3,395,602 shares of the company’s stock valued at $74,975,000 after buying an additional 866,889 shares during the period.

Analyst Ratings Changes

Several research analysts recently issued reports on SAIL shares. The Goldman Sachs Group decreased their price target on shares of SailPoint from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $23.00 target price on shares of SailPoint in a report on Wednesday, February 11th. BTIG Research cut their price target on SailPoint from $29.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of SailPoint in a research note on Monday, December 29th. Finally, Berenberg Bank started coverage on shares of SailPoint in a report on Tuesday, November 18th. They issued a “buy” rating and a $31.70 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.59.

SailPoint Price Performance

Shares of NASDAQ:SAIL opened at $15.45 on Monday. The business has a 50 day simple moving average of $16.27 and a two-hundred day simple moving average of $19.32. The firm has a market capitalization of $8.68 billion and a PE ratio of -3.23. SailPoint, Inc. has a 1 year low of $12.81 and a 1 year high of $24.95.

Insider Transactions at SailPoint

In other SailPoint news, President Matt Mills sold 21,345 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total transaction of $410,464.35. Following the transaction, the president owned 1,882,913 shares of the company’s stock, valued at approximately $36,208,416.99. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Christopher Schmitt sold 11,908 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total transaction of $228,990.84. Following the transaction, the general counsel owned 1,057,956 shares in the company, valued at approximately $20,344,493.88. This represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 354,243 shares of company stock valued at $6,924,823.

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.