SailPoint (NASDAQ:SAIL) CAO Mitra Rezvan Sells 3,881 Shares

Key Points

• SailPoint CAO Mitra Rezvan sold 3,881 shares on July 8 at an average price of $15.42, for about $59,845. The sale was part of a pre-arranged Rule 10b5-1 plan and was made to cover tax withholding tied to equity vesting.
• Rezvan has also sold shares recently, including 2,954 shares on July 7 and 7,487 shares on June 1, signaling a series of insider dispositions over a short period.
• SailPoint reported mixed but improving fundamentals: quarterly EPS of $0.05 beat estimates, revenue rose 21.5% year over year to $280.14 million, and analysts currently hold a consensus rating of Moderate Buy with a $20.08 target price.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) CAO Mitra Rezvan sold 3,881 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $59,845.02. Following the transaction, the chief accounting officer owned 182,641 shares of the company's stock, valued at approximately $2,816,324.22. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 transaction of $149,740.00.

SailPoint Stock Performance

Shares of SAIL traded down $0.26 during midday trading on Thursday, hitting $14.85. 5,858,314 shares of the stock traded hands, compared to its average volume of 3,668,685. The business's 50 day moving average price is $14.54 and its two-hundred day moving average price is $15.15. The firm has a market capitalization of $8.42 billion, a PE ratio of -55.00, a price-to-earnings-growth 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 - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The company had revenue of $280.14 million for the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The business's quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm posted $0.01 EPS. 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, equities research analysts forecast that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On SailPoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAIL. Norges Bank acquired a new position in shares of SailPoint during the 4th quarter valued at $234,681,000. OFI Invest Asset Management boosted its stake in SailPoint by 79.6% during the fourth quarter. OFI Invest Asset Management now owns 905,653 shares of the company's stock valued at $18,321,000 after buying an additional 401,431 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in SailPoint by 22.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,412,578 shares of the company's stock valued at $26,768,000 after buying an additional 255,720 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SailPoint by 215.7% during the third quarter. JPMorgan Chase & Co. now owns 95,616 shares of the company's stock worth $2,111,000 after acquiring an additional 65,329 shares during the period. Finally, Maridea Wealth Management LLC bought a new stake in SailPoint in the fourth quarter worth about $1,816,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group downgraded SailPoint from a "buy" rating to a "buy" rating in a research note on Wednesday, June 17th. Rosenblatt Securities started coverage on SailPoint in a research note on Wednesday. They issued a "neutral" rating and a $16.00 price target for the company. Stephens reissued an "overweight" rating and set a $20.00 price target on shares of SailPoint in a report on Wednesday, June 17th. Robert W. Baird cut their price objective on shares of SailPoint from $26.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SailPoint in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, SailPoint 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.