Insider Selling: SailPoint (NASDAQ:SAIL) General Counsel Sells $389,982.60 in Stock

SailPoint, Inc. (NASDAQ:SAIL) General Counsel Christopher Schmitt sold 23,940 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $389,982.60. Following the completion of the sale, the general counsel owned 1,331,611 shares of the company’s stock, valued at $21,691,943.19. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 Wednesday, July 8th, Christopher Schmitt sold 18,890 shares of SailPoint stock. The stock was sold at an average price of $15.42, for a total value of $291,283.80.

SailPoint Trading Down 7.7%

Shares of SailPoint stock traded down $1.14 during trading on Friday, hitting $13.71. 3,361,605 shares of the stock traded hands, compared to its average volume of 4,720,288. The stock’s fifty day simple moving average is $14.65 and its 200 day simple moving average is $15.09. The firm has a market cap of $7.78 billion, a P/E ratio of -50.78, a price-to-earnings-growth ratio of 1.53 and a beta of 2.20. SailPoint, Inc. has a 52-week low of $10.30 and a 52-week high of $24.00.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $280.14 million during the quarter. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company 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. As a group, equities analysts expect that SailPoint, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On SailPoint

Several institutional investors and hedge funds have recently bought and sold shares of SAIL. Royal Bank of Canada acquired a new position in shares of SailPoint during the first quarter worth $1,146,000. Goldman Sachs Group Inc. acquired a new stake in shares of SailPoint in the 1st quarter worth $7,546,000. JPMorgan Chase & Co. purchased a new position in SailPoint during the 2nd quarter worth $692,000. Rhumbline Advisers purchased a new position in SailPoint during the 2nd quarter worth $1,047,000. Finally, New York State Common Retirement Fund purchased a new position in SailPoint during the 2nd quarter worth $572,000.

Analysts Set New Price Targets

Several brokerages recently issued reports on SAIL. BMO Capital Markets reissued an “outperform” rating on shares of SailPoint in a report on Wednesday, June 10th. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of SailPoint in a report on Wednesday, June 17th. Wells Fargo & Company lifted their price target on SailPoint from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Weiss Ratings restated a “sell (e+)” rating on shares of SailPoint in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $19.00 target price on shares of SailPoint in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.08.

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?

About SailPoint

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.