Christopher Schmitt Sells 23,940 Shares of SailPoint (NASDAQ:SAIL) Stock

SailPoint, Inc. (NASDAQ:SAIL) General Counsel Christopher Schmitt sold 23,940 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total transaction of $389,982.60. Following the completion of the sale, the general counsel directly owned 1,331,611 shares in the company, valued at $21,691,943.19. This trade represents a 1.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $15.42, for a total value of $291,283.80.

SailPoint Price Performance

NASDAQ:SAIL traded down $0.26 during trading hours on Thursday, reaching $14.85. 5,858,299 shares of the company traded hands, compared to its average volume of 3,668,685. The firm’s 50-day moving average is $14.54 and its 200-day moving average is $15.15. The stock has a market cap of $8.42 billion, a P/E ratio of -55.00, a P/E/G ratio of 1.80 and a beta of 2.20. SailPoint, Inc. has a 1-year low of $10.30 and a 1-year high of $24.00.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings results 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. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company had revenue of $280.14 million during the quarter. During the same period last year, the firm earned $0.01 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. 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, research analysts predict that SailPoint, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SAIL. Truist Financial set a $18.00 target price on shares of SailPoint in a report on Wednesday, June 17th. Roth Capital started coverage on shares of SailPoint in a report on Wednesday, May 20th. They set a “buy” rating and a $19.00 price target for the company. Mizuho set a $16.00 price objective on shares of SailPoint in a research report on Wednesday, June 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of SailPoint in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SailPoint presently has an average rating of “Moderate Buy” and a consensus target price of $20.08.

Institutional Trading of SailPoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Palladiem LLC acquired a new position in shares of SailPoint during the 4th quarter valued at about $42,000. Kestra Advisory Services LLC acquired a new stake in shares of SailPoint in the fourth quarter worth approximately $42,000. State of Wyoming purchased a new stake in SailPoint in the second quarter valued at approximately $45,000. CWM LLC raised its stake in SailPoint by 315.6% during the fourth quarter. CWM LLC now owns 2,656 shares of the company’s stock worth $54,000 after purchasing an additional 2,017 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in SailPoint by 208.2% during the fourth quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company’s stock worth $62,000 after purchasing an additional 2,074 shares during the period.

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.