SailPoint (NASDAQ:SAIL) General Counsel Sells $766,450.12 in Stock

Key Points

• SailPoint's General Counsel, Christopher Schmitt, sold $766,450.12 worth of stock, reducing his holdings by 3.1% to approximately 1,069,864 shares.
• The company's stock price increased by 3.9% on Thursday, reaching $23.30, following a series of insider trades.
• SailPoint reported Q2 earnings exceeding expectations with a revenue of $264.36 million, up 32.9% from the previous year.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) General Counsel Christopher Schmitt sold 34,186 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $22.42, for a total transaction of $766,450.12. Following the sale, the general counsel directly owned 1,069,864 shares of the company's stock, valued at $23,986,350.88. The trade was a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Christopher Schmitt also recently made the following trade(s):

• On Wednesday, October 8th, Christopher Schmitt sold 28,841 shares of SailPoint stock. The shares were sold at an average price of $22.45, for a total transaction of $647,480.45.
• On Tuesday, October 7th, Christopher Schmitt sold 28,267 shares of SailPoint stock. The shares were sold at an average price of $22.55, for a total transaction of $637,420.85.

SailPoint Stock Up 3.9%

Shares of NASDAQ:SAIL traded up $0.87 during midday trading on Thursday, reaching $23.30. The company's stock had a trading volume of 3,897,020 shares, compared to its average volume of 2,234,699. The stock has a fifty day moving average of $21.12 and a 200 day moving average of $20.05. SailPoint, Inc. has a twelve month low of $15.05 and a twelve month high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings results on Tuesday, September 9th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $264.36 million during the quarter, compared to analysts' expectations of $243.41 million. SailPoint'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.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SAIL. Arete started coverage on shares of SailPoint in a research report on Monday, July 7th. They set a "sell" rating and a $16.00 price target for the company. BMO Capital Markets decreased their price target on shares of SailPoint from $27.00 to $25.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Weiss Ratings reissued a "sell (d+)" rating on shares of SailPoint in a report on Wednesday. Wells Fargo & Company lifted their target price on shares of SailPoint from $20.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, September 30th. Finally, Morgan Stanley raised shares of SailPoint from an "equal weight" rating to an "overweight" rating and set a $25.00 price objective on the stock in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $25.58.

Hedge Funds Weigh In On SailPoint

A number of large investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of SailPoint by 3.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 46,895 shares of the company's stock worth $1,072,000 after purchasing an additional 1,510 shares during the period. Assetmark Inc. acquired a new stake in shares of SailPoint in the first quarter valued at about $32,000. Loomis Sayles & Co. L P purchased a new position in SailPoint in the 2nd quarter worth approximately $42,000. State of Wyoming acquired a new position in SailPoint in the 2nd quarter worth $45,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of SailPoint during the 1st quarter valued at approximately $49,000.

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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