Insider Selling: SailPoint (NASDAQ:SAIL) EVP Sells 12,911 Shares of Stock

Key Points

• Chandrasekar Gnanasambandam, EVP of SailPoint, recently sold a total of 12,911 shares at an average price of $22.45, amounting to $289,851.95, reducing his ownership by 2.26%.
• SailPoint's stock has shown a recent upward movement, trading at $23.30 with a 12-month high of $26.35 and a low of $15.05.
• In its latest quarterly earnings, SailPoint reported $0.07 EPS and a revenue of $264.36 million, both exceeding analyst expectations.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) EVP Chandrasekar Gnanasambandam sold 12,911 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $22.45, for a total value of $289,851.95. Following the transaction, the executive vice president directly owned 558,254 shares of the company's stock, valued at approximately $12,532,802.30. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Chandrasekar Gnanasambandam also recently made the following trade(s):

• On Thursday, October 9th, Chandrasekar Gnanasambandam sold 27,174 shares of SailPoint stock. The shares were sold at an average price of $22.42, for a total value of $609,241.08.
• On Tuesday, October 7th, Chandrasekar Gnanasambandam sold 12,654 shares of SailPoint stock. The shares were sold at an average price of $22.55, for a total value of $285,347.70.

SailPoint Stock Performance

SAIL traded up $0.87 during trading on Thursday, hitting $23.30. 3,897,020 shares of the company's stock traded hands, compared to its average volume of 2,432,018. The company's 50 day simple moving average is $21.14 and its two-hundred day simple moving average is $20.08. SailPoint, Inc. has a 12-month low of $15.05 and a 12-month high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. The firm had revenue of $264.36 million during the quarter, compared to analysts' expectations of $243.41 million. The business's quarterly revenue was up 32.9% on a year-over-year basis. SailPoint has set its FY 2026 guidance at 0.200-0.220 EPS. Q3 2026 guidance at 0.050-0.06 EPS.

Institutional Trading of SailPoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in SailPoint in the first quarter valued at approximately $32,000. Loomis Sayles & Co. L P acquired a new position in shares of SailPoint during the second quarter worth $42,000. State of Wyoming acquired a new position in shares of SailPoint during the second quarter worth $45,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in SailPoint in the first quarter valued at $49,000. Finally, Quarry LP acquired a new position in SailPoint in the first quarter valued at $70,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Mizuho lifted their target price on SailPoint from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. upgraded SailPoint from a "neutral" rating to an "overweight" rating and set a $26.00 target price for the company in a research report on Wednesday, August 13th. Cantor Fitzgerald started coverage on SailPoint in a report on Monday, June 30th. They issued an "overweight" rating and a $29.00 price target for the company. Morgan Stanley raised SailPoint from an "equal weight" rating to an "overweight" rating and set a $25.00 target price on the stock in a research report on Tuesday, September 2nd. Finally, Arete Research upgraded SailPoint to a "strong sell" rating and set a $16.00 price objective for the company in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.58.

SailPoint Company Profile

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.

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