SailPoint, Inc.’s (NASDAQ:SAIL) Lock-Up Period Will Expire Tomorrow

SailPoint’s (NASDAQ:SAIL) lock-up period will expire on Tuesday, August 12th. SailPoint had issued 60,000,000 shares in its IPO on February 13th. The total size of the offering was $1,380,000,000 based on an initial share price of $23.00. After the end of SailPoint’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SAIL. Royal Bank Of Canada reiterated an “outperform” rating and issued a $29.00 price objective (up previously from $27.00) on shares of SailPoint in a research report on Thursday, June 12th. Cantor Fitzgerald began coverage on SailPoint in a research report on Monday, June 30th. They issued an “overweight” rating and a $29.00 price objective for the company. Wells Fargo & Company raised their price objective on SailPoint from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 12th. Mizuho raised their price objective on SailPoint from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 11th. Finally, Arete began coverage on SailPoint in a research report on Monday, July 7th. They issued a “sell” rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.47.

SailPoint Stock Performance

Shares of SAIL opened at $19.19 on Monday. The company has a fifty day moving average price of $21.20. SailPoint has a 52 week low of $15.05 and a 52 week high of $26.35.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $230.47 million during the quarter, compared to the consensus estimate of $225.18 million. The business’s quarterly revenue was up 22.8% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAIL. Stephens Investment Management Group LLC bought a new position in SailPoint during the first quarter worth about $23,213,000. Allianz Asset Management GmbH bought a new position in SailPoint during the first quarter worth about $3,496,000. GW&K Investment Management LLC bought a new position in SailPoint during the first quarter worth about $2,173,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in SailPoint during the first quarter worth about $1,683,000. Finally, Assetmark Inc. acquired a new stake in shares of SailPoint in the 1st quarter valued at about $32,000.

About SailPoint

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.