SailPoint (NASDAQ:SAIL) CFO Brian Carolan Sells 84,699 Shares

Key Points

• CFO Brian Carolan of SailPoint sold 84,699 shares at an average price of $22.42, totaling approximately $1.9 million, reducing his ownership by 5.96% to about 1.34 million shares.
• SailPoint's recent quarterly earnings showed a 32.9% year-over-year revenue increase, reporting $264.36 million and surpassing analysts' expectations.
• Several hedge funds have recently increased their stakes in SailPoint, with Voya Investment Management boosting its ownership by 10.1% in the third quarter.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) CFO Brian Carolan sold 84,699 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $22.42, for a total transaction of $1,898,951.58. Following the transaction, the chief financial officer owned 1,336,628 shares in the company, valued at approximately $29,967,199.76. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Brian Carolan also recently made the following trade(s):

• On Wednesday, October 8th, Brian Carolan sold 36,899 shares of SailPoint stock. The stock was sold at an average price of $22.45, for a total transaction of $828,382.55.

SailPoint Trading Up 3.9%

Shares of SAIL stock traded up $0.87 during trading hours on Thursday, hitting $23.30. 3,897,020 shares of the company were exchanged, compared to its average volume of 2,234,699. SailPoint, Inc. has a 1 year low of $15.05 and a 1 year high of $26.35. The firm has a fifty day moving average of $21.12 and a 200 day moving average of $20.05.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its stake in shares of SailPoint by 10.1% in the 3rd quarter. Voya Investment Management LLC now owns 4,309,070 shares of the company's stock valued at $95,144,000 after purchasing an additional 395,287 shares during the period. Osaic Holdings Inc. grew its holdings in shares of SailPoint by 60.7% in the second quarter. Osaic Holdings Inc. now owns 12,661 shares of the company's stock valued at $289,000 after acquiring an additional 4,780 shares in the last quarter. Orion Porfolio Solutions LLC bought a new position in SailPoint during the second quarter valued at $1,183,000. State of Wyoming bought a new position in SailPoint during the second quarter valued at $45,000. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of SailPoint in the second quarter worth $4,833,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SAIL. BTIG Research reaffirmed a "buy" rating and set a $29.00 price objective on shares of SailPoint in a research report on Tuesday, September 30th. Wells Fargo & Company upped their price target on SailPoint from $20.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 30th. Cantor Fitzgerald began coverage on SailPoint in a research note on Monday, June 30th. They issued an "overweight" rating and a $29.00 target price for the company. Barclays upped their price target on SailPoint from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Finally, BMO Capital Markets decreased their target price on SailPoint from $27.00 to $25.00 and set an "outperform" rating on the stock in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $25.58.

About SailPoint

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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