SailPoint (NASDAQ:SAIL) EVP Sells $609,241.08 in Stock

Key Points

• Chandrasekar Gnanasambandam, EVP of SailPoint, sold 27,174 shares of stock for approximately $609,241 on October 9, reducing his ownership by 4.87%.
• SailPoint's stock increased by 3.9% on the same day, trading at $23.30, with a significant volume of nearly 3.9 million shares exchanged.
• The company recently reported quarterly earnings of $0.07 EPS, exceeding estimates, with revenue up 32.9% year-over-year, leading to raised price targets from multiple analysts.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) EVP Chandrasekar Gnanasambandam sold 27,174 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $22.42, for a total value of $609,241.08. Following the sale, the executive vice president directly owned 531,080 shares in the company, valued at $11,906,813.60. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, October 8th, Chandrasekar Gnanasambandam sold 12,911 shares of SailPoint stock. The stock was sold at an average price of $22.45, for a total value of $289,851.95.
• On Tuesday, October 7th, Chandrasekar Gnanasambandam sold 12,654 shares of SailPoint stock. The stock was sold at an average price of $22.55, for a total value of $285,347.70.

SailPoint Stock Up 3.9%

SAIL traded up $0.87 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 200-day simple moving average is $20.08. SailPoint, Inc. has a one year low of $15.05 and a one year high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $243.41 million. The firm's revenue for the quarter 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SAIL shares. Barclays lifted their target price on SailPoint from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. BTIG Research reiterated a "buy" rating and set a $29.00 price target on shares of SailPoint in a research note on Tuesday, September 30th. Arete assumed coverage on SailPoint in a research note on Monday, July 7th. They set a "sell" rating and a $16.00 price target on the stock. Scotiabank assumed coverage on SailPoint in a research note on Wednesday, September 3rd. They set a "sector outperform" rating and a $25.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on SailPoint from $20.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, SailPoint presently has a consensus rating of "Moderate Buy" and an average target price of $25.58.

Hedge Funds Weigh In On SailPoint

Hedge funds have recently bought and sold shares of the business. Assetmark Inc. purchased a new position in SailPoint during the first quarter worth approximately $32,000. Loomis Sayles & Co. L P purchased a new position in SailPoint during the second quarter worth approximately $42,000. State of Wyoming purchased a new position in SailPoint during the second quarter worth approximately $45,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in SailPoint during the first quarter worth approximately $49,000. Finally, Quarry LP purchased a new position in SailPoint during the first quarter worth approximately $70,000.

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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