SailPoint, Inc. (NASDAQ:SAIL – Get Free Report) CAO Mitra Rezvan sold 3,881 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $59,845.02. Following the completion of the transaction, the chief accounting officer owned 182,641 shares in the company, valued at $2,816,324.22. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, July 7th, Mitra Rezvan sold 2,954 shares of SailPoint stock. The stock was sold at an average price of $16.29, for a total value of $48,120.66.
- 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 value of $149,740.00.
SailPoint Trading Down 1.7%
Shares of SAIL opened at $14.85 on Friday. The business’s 50 day moving average is $14.60 and its 200 day moving average is $15.10. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $24.00. The company has a market capitalization of $8.42 billion, a PE ratio of -55.00, a price-to-earnings-growth ratio of 1.68 and a beta of 2.20.
More SailPoint News
Here are the key news stories impacting SailPoint this week:
- Positive Sentiment: Rosenblatt Securities initiated coverage with a neutral/hold stance and a $16 price target, implying modest upside from recent trading levels. Rosenblatt Securities Initiates a Hold Rating on SailPoint, Inc. (SAIL)
- Positive Sentiment: A separate note highlighted that SailPoint has been up since its last earnings report, suggesting the company’s recent financial results still support the stock. SailPoint, Inc. (SAIL) Up 2.7% Since Last Earnings Report: Can It Continue?
- Neutral Sentiment: The company remains in the spotlight after reporting quarterly earnings that beat estimates and raised guidance, which continues to shape investor expectations.
- Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of SailPoint investors, which can add legal overhang and uncertainty. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of SailPoint, Inc. – SAIL
- Negative Sentiment: Multiple executives and insiders disclosed stock sales, including the CEO, CFO, president, general counsel, CAO, EVP, and another insider. While the sales were tied to Rule 10b5-1 plans and tax withholding, the volume of selling may still worry investors about near-term sentiment. SailPoint (SAIL) Faces Insider Resales, Is The Stock Still Cheap?
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on SAIL. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $19.00 target price on shares of SailPoint in a research note on Wednesday, June 10th. Jefferies Financial Group cut shares of SailPoint from a “buy” rating to a “buy” rating in a research note on Wednesday, June 17th. Roth Capital began coverage on shares of SailPoint in a report on Wednesday, May 20th. They set a “buy” rating and a $19.00 price objective for the company. BTIG Research restated a “buy” rating and set a $18.00 price objective on shares of SailPoint in a research report on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SailPoint in a 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.08.
Institutional Investors Weigh In On SailPoint
Several large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC raised its stake in SailPoint by 12.0% during the second quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock valued at $122,000 after purchasing an additional 900 shares in the last quarter. Cerity Partners LLC lifted its position in SailPoint by 0.8% during the fourth quarter. Cerity Partners LLC now owns 115,604 shares of the company’s stock valued at $2,339,000 after purchasing an additional 923 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in shares of SailPoint by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 102,573 shares of the company’s stock worth $2,075,000 after buying an additional 1,048 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in shares of SailPoint by 24.1% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,871 shares of the company’s stock worth $159,000 after buying an additional 1,528 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of SailPoint during the 2nd quarter valued at about $45,000.
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.
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