SailPoint (NASDAQ:SAIL) President Matt Mills Sells 34,312 Shares of Stock

Key Points

• SailPoint President Matt Mills sold 34,312 shares on July 8 at an average price of $15.42, worth about $529,091. The sale was disclosed in an SEC filing and was executed under a pre-arranged Rule 10b5-1 plan to cover tax withholding from equity award vesting.
• Mills also sold 43,485 shares the prior day at an average price of $16.29, bringing his recent insider selling total to a sizeable level. After the latest transaction, he still directly owned about 2.37 million shares.
• SailPoint shares traded down 1.7% to $14.85, while the company reported quarterly EPS of $0.05, slightly above estimates, on revenue of $280.14 million, up 21.5% year over year. Analyst sentiment remains broadly positive, with a consensus rating of Moderate Buy and an average price target of $20.08.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) President Matt Mills sold 34,312 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $529,091.04. Following the transaction, the president directly owned 2,373,537 shares of the company's stock, valued at approximately $36,599,940.54. This represents a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.

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

• On Tuesday, July 7th, Matt Mills sold 43,485 shares of SailPoint stock. The stock was sold at an average price of $16.29, for a total transaction of $708,370.65.

SailPoint Trading Down 1.7%

Shares of SAIL traded down $0.26 during mid-day trading on Thursday, reaching $14.85. 5,858,299 shares of the stock traded hands, compared to its average volume of 3,668,685. The firm has a fifty day moving average price of $14.54 and a 200 day moving average price of $15.15. The company has a market cap of $8.42 billion, a price-to-earnings 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 issued its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 company's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business 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. On average, sell-side analysts anticipate that SailPoint, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

SAIL has been the subject of several recent analyst reports. Rosenblatt Securities initiated coverage on SailPoint in a report on Wednesday. They set a "neutral" rating and a $16.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price objective on shares of SailPoint in a report on Wednesday, June 17th. TD Cowen restated a "buy" rating on shares of SailPoint in a research report on Wednesday, June 17th. JPMorgan Chase & Co. reduced their price target on shares of SailPoint from $26.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, March 19th. Finally, Bank of America reissued a "neutral" rating and set a $16.00 price target on shares of SailPoint in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SailPoint currently has an average rating of "Moderate Buy" and an average price target of $20.08.

Hedge Funds Weigh In On SailPoint

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of SailPoint during the fourth quarter valued at approximately $234,681,000. OFI Invest Asset Management grew its holdings in shares of SailPoint by 79.6% in the fourth quarter. OFI Invest Asset Management now owns 905,653 shares of the company's stock worth $18,321,000 after purchasing an additional 401,431 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of SailPoint by 22.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,412,578 shares of the company's stock worth $26,768,000 after buying an additional 255,720 shares during the period. JPMorgan Chase & Co. raised its holdings in SailPoint by 215.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,616 shares of the company's stock valued at $2,111,000 after buying an additional 65,329 shares during the last quarter. Finally, Maridea Wealth Management LLC purchased a new stake in SailPoint during the 4th quarter valued at $1,816,000.

SailPoint Company Profile

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.

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