Mitra Rezvan Sells 3,881 Shares of SailPoint (NASDAQ:SAIL) Stock

SailPoint, Inc. (NASDAQ:SAIL) CAO Mitra Rezvan sold 3,881 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $59,845.02. Following the completion of the transaction, the chief accounting officer owned 182,641 shares in the company, valued at $2,816,324.22. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.

Mitra Rezvan also recently made the following trade(s):

• On Tuesday, July 7th, Mitra Rezvan sold 2,954 shares of SailPoint stock. The shares were sold at an average price of $16.29, for a total transaction of $48,120.66.
• On Monday, June 1st, Mitra Rezvan sold 7,487 shares of SailPoint stock. The stock was sold at an average price of $20.00, for a total value of $149,740.00.

SailPoint Stock Performance

Shares of SAIL stock opened at $13.71 on Friday. The company has a 50 day moving average price of $14.65 and a 200 day moving average price of $15.09. The stock has a market capitalization of $7.78 billion, a P/E ratio of -50.78, a price-to-earnings-growth ratio of 1.65 and a beta of 2.20. SailPoint, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $24.00.

SailPoint (NASDAQ:SAIL) last issued its earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The firm had revenue of $280.14 million during the quarter. During the same quarter in the previous year, the firm posted $0.01 EPS. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, research analysts forecast that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of SailPoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new position in shares of SailPoint during the 2nd quarter worth about $66,173,000. Handelsbanken Fonder AB raised its stake in SailPoint by 13.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 18,000 shares of the company’s stock worth $264,000 after buying an additional 2,200 shares during the period. Polianta Ltd bought a new position in SailPoint during the second quarter worth about $1,948,000. FNY Investment Advisers LLC lifted its holdings in SailPoint by 12.0% during the second quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock worth $122,000 after acquiring an additional 900 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in SailPoint by 40.1% in the first quarter. Bank of America Corp DE now owns 1,764,870 shares of the company’s stock valued at $23,367,000 after acquiring an additional 504,726 shares during the period.

SailPoint News Summary

Here are the key news stories impacting SailPoint this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage on SailPoint with a neutral/hold rating and a $16 price target, suggesting the stock still has some upside from recent levels. Rosenblatt Securities Initiates a Hold Rating on SailPoint, Inc. (SAIL)
• Positive Sentiment: A recent earnings recap noted SailPoint has remained up since its last report, reflecting continued support from its better-than-expected quarter and raised guidance. SailPoint, Inc. (SAIL) Up 2.7% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: SailPoint’s last quarterly report beat earnings estimates and showed 21.5% revenue growth, but the market may now be focusing more on near-term sentiment and positioning than on fundamentals alone.
• Negative Sentiment: Pomerantz LLP announced an investigation on behalf of SailPoint investors, creating a legal overhang that could weigh on sentiment. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of SailPoint, Inc. – SAIL
• Negative Sentiment: Multiple insiders, including the CEO, CFO, president, general counsel, CAO, and EVP, disclosed stock sales over the past two days. The transactions were tied to 10b5-1 plans and tax withholding, but the volume of selling can still spook investors. SailPoint (SAIL) Faces Insider Resales, Is The Stock Still Cheap?

Analyst Ratings Changes

A number of research firms have recently weighed in on SAIL. Roth Capital began coverage on shares of SailPoint in a research report on Wednesday, May 20th. They set a “buy” rating and a $19.00 price target for the company. TD Cowen reiterated a “buy” rating on shares of SailPoint in a research report on Wednesday, June 17th. JPMorgan Chase & Co. dropped their price target on SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of SailPoint in a research report on Wednesday, June 17th. Finally, Bank of America reaffirmed a “neutral” rating and set a $16.00 price target on shares of SailPoint in a research note on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.08.

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.