Insider Selling: SailPoint (NASDAQ:SAIL) President Sells 61,279 Shares of Stock

Key Points

• Matt Mills, President of SailPoint, sold 61,279 shares of stock on October 9th for a total of approximately $1.37 million, reducing his ownership by 3.12% to 1,904,258 shares.
• SailPoint's stock increased 3.9% to $23.30 on the same day, with a trading volume surpassing its average by nearly 1.5 million shares.
• The company reported $264.36 million in revenue for the last quarter, exceeding analysts' expectations, and has received multiple upgrades from various financial analysts indicating a positive outlook.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) President Matt Mills sold 61,279 shares of the business's stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $22.42, for a total value of $1,373,875.18. Following the completion of the sale, the president owned 1,904,258 shares of the company's stock, valued at $42,693,464.36. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Matt Mills also recently made the following trade(s):

• On Wednesday, October 8th, Matt Mills sold 51,700 shares of SailPoint stock. The shares were sold at an average price of $22.45, for a total value of $1,160,665.00.
• On Tuesday, October 7th, Matt Mills sold 50,671 shares of SailPoint stock. The shares were sold at an average price of $22.55, for a total value of $1,142,631.05.

SailPoint Stock Up 3.9%

Shares of SailPoint stock traded up $0.87 on Thursday, reaching $23.30. The company's stock had a trading volume of 3,897,020 shares, compared to its average volume of 2,432,018. SailPoint, Inc. has a 52-week low of $15.05 and a 52-week high of $26.35. The stock has a 50-day moving average price of $21.14 and a 200-day moving average price of $20.08.

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

Hedge Funds Weigh In On SailPoint

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. acquired a new position in SailPoint during the 1st quarter worth about $94,194,000. Norges Bank acquired a new position in SailPoint during the 2nd quarter worth about $112,297,000. Alliancebernstein L.P. acquired a new position in SailPoint during the 1st quarter worth about $55,644,000. Voya Investment Management LLC acquired a new position in SailPoint during the 1st quarter worth about $53,616,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in SailPoint during the 2nd quarter worth about $64,453,000.

Wall Street Analysts Forecast Growth

SAIL has been the subject of several research reports. Stephens upgraded SailPoint to a "strong-buy" rating in a research report on Tuesday, August 12th. 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 report on Wednesday, August 13th. Morgan Stanley upgraded SailPoint from an "equal weight" rating to an "overweight" rating and set a $25.00 target price for the company in a report on Tuesday, September 2nd. Wells Fargo & Company upped their target price on SailPoint from $20.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, September 30th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of SailPoint in a report on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, SailPoint has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.