Insider Selling: SailPoint (NASDAQ:SAIL) CEO Sells $1,438,069.20 in Stock

SailPoint, Inc. (NASDAQ:SAIL) CEO Mark Mcclain sold 93,260 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the sale, the chief executive officer directly owned 8,093,870 shares of the company’s stock, valued at approximately $124,807,475.40. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.

SailPoint Stock Down 1.7%

NASDAQ:SAIL traded down $0.26 during trading hours on Thursday, reaching $14.85. 5,858,299 shares of the company’s stock were exchanged, compared to its average volume of 3,668,685. The company 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 business’s 50-day simple moving average is $14.54 and its two-hundred day simple moving average is $15.15.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter. During the same period in the prior year, the company posted $0.01 EPS. SailPoint’s quarterly revenue 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. As a group, sell-side analysts anticipate that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of SailPoint

Hedge funds and other institutional investors have recently modified their holdings of the business. Palladiem LLC purchased a new position in shares of SailPoint during the fourth quarter valued at $42,000. Kestra Advisory Services LLC purchased a new stake in SailPoint in the 4th quarter worth about $42,000. State of Wyoming purchased a new stake in SailPoint in the 2nd quarter worth about $45,000. CWM LLC boosted its position in SailPoint by 315.6% during the 4th quarter. CWM LLC now owns 2,656 shares of the company’s stock worth $54,000 after acquiring an additional 2,017 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in SailPoint by 208.2% during the 4th quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company’s stock worth $62,000 after acquiring an additional 2,074 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SAIL shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $19.00 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 stock an “overweight” rating in a research note on Wednesday, June 10th. Wolfe Research restated an “outperform” rating and set a $18.00 price objective on shares of SailPoint in a report on Wednesday, June 10th. Robert W. Baird reduced their price objective on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Finally, Stephens reaffirmed an “overweight” rating and set a $20.00 price objective on shares of SailPoint in a research note on Wednesday, June 17th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.