Insider Selling: SailPoint (NASDAQ:SAIL) CAO Sells 2,954 Shares

SailPoint, Inc. (NASDAQ:SAIL) CAO Mitra Rezvan sold 2,954 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $48,120.66. Following the completion of the transaction, the chief accounting officer owned 186,522 shares in the company, valued at approximately $3,038,443.38. The trade was a 1.56% decrease in their position. The sale was disclosed in a 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 Wednesday, July 8th, Mitra Rezvan sold 3,881 shares of SailPoint stock. The shares were sold at an average price of $15.42, for a total transaction of $59,845.02.
• On Monday, June 1st, Mitra Rezvan sold 7,487 shares of SailPoint stock. The shares were sold at an average price of $20.00, for a total transaction of $149,740.00.

SailPoint Stock Down 1.7%

SailPoint stock traded down $0.26 during trading hours on Thursday, hitting $14.85. The stock had a trading volume of 5,858,314 shares, compared to its average volume of 3,668,685. The stock has a market capitalization of $8.42 billion, a P/E ratio of -55.00, a price-to-earnings-growth ratio of 1.80 and a beta of 2.20. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $24.00. The stock’s 50-day moving average price is $14.54 and its 200-day moving average price is $15.15.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm 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 company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. 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 expect that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On SailPoint

Large investors have recently made changes to their positions in the company. Royal Bank of Canada bought a new stake in shares of SailPoint during the 1st quarter valued at about $1,146,000. Goldman Sachs Group Inc. purchased a new position in shares of SailPoint in the first quarter worth approximately $7,546,000. JPMorgan Chase & Co. bought a new stake in SailPoint during the second quarter valued at approximately $692,000. Rhumbline Advisers purchased a new stake in SailPoint during the second quarter valued at approximately $1,047,000. Finally, New York State Common Retirement Fund purchased a new stake in SailPoint during the second quarter valued at approximately $572,000.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America reissued a “neutral” rating and issued a $16.00 target price on shares of SailPoint in a report on Friday, June 12th. JPMorgan Chase & Co. dropped their price objective on SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. TD Cowen reissued a “buy” rating on shares of SailPoint in a research report on Wednesday, June 17th. Robert W. Baird lowered their target price on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SailPoint in a report on Wednesday, June 17th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, SailPoint currently has an average rating of “Moderate Buy” and a consensus target price of $20.08.

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.