Insider Selling: SailPoint (NASDAQ:SAIL) General Counsel Sells $291,283.80 in Stock

SailPoint, Inc. (NASDAQ:SAIL) General Counsel Christopher Schmitt sold 18,890 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $291,283.80. Following the completion of the sale, the general counsel directly owned 1,312,721 shares of the company’s stock, valued at $20,242,157.82. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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.

Christopher Schmitt also recently made the following trade(s):

• On Tuesday, July 7th, Christopher Schmitt sold 23,940 shares of SailPoint stock. The stock was sold at an average price of $16.29, for a total value of $389,982.60.

SailPoint Stock Performance

SAIL traded down $1.14 on Friday, hitting $13.71. 3,361,605 shares of the company were exchanged, compared to its average volume of 4,720,288. The firm has a fifty day simple moving average of $14.65 and a two-hundred day simple moving average of $15.09. The stock has a market capitalization of $7.78 billion, a PE ratio of -50.78, a price-to-earnings-growth ratio of 1.53 and a beta of 2.20. SailPoint, Inc. has a 12 month low of $10.30 and a 12 month 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 the consensus estimate of $0.04 by $0.01. The company had revenue of $280.14 million for the quarter. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. 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, equities analysts expect that SailPoint, Inc. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On SailPoint

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of SailPoint during the 4th quarter valued at $234,681,000. Wasatch Advisors LP bought a new stake in shares of SailPoint in the second quarter worth $66,173,000. UBS Group AG grew its holdings in shares of SailPoint by 116.3% in the third quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after acquiring an additional 2,219,593 shares during the period. Stephens Investment Management Group LLC increased its position in SailPoint by 51.0% during the first quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock valued at $38,339,000 after acquiring an additional 978,376 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in SailPoint by 1.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,869,273 shares of the company’s stock valued at $63,359,000 after acquiring an additional 49,718 shares during the last quarter.

More SailPoint News

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

Several research analysts have issued reports on SAIL shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of SailPoint in a report on Wednesday, June 17th. JPMorgan Chase & Co. reduced their price target on shares of SailPoint from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Barclays decreased their price objective on shares of SailPoint from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Wells Fargo & Company lifted their price objective on SailPoint from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Stephens reissued an “overweight” rating and issued a $20.00 target price on shares of SailPoint in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.