Mark Mcclain Sells 93,260 Shares of SailPoint (NASDAQ:SAIL) Stock

SailPoint, Inc. (NASDAQ:SAIL) CEO Mark Mcclain sold 93,260 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $1,438,069.20. Following the transaction, the chief executive officer owned 8,093,870 shares of the company’s stock, valued at approximately $124,807,475.40. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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.

SailPoint Price Performance

SAIL stock traded down $0.26 on Thursday, reaching $14.85. The company’s stock had a trading volume of 5,858,299 shares, compared to its average volume of 3,668,685. SailPoint, Inc. has a 52 week low of $10.30 and a 52 week high of $24.00. The company has a market capitalization of $8.42 billion, a P/E ratio of -55.00, a price-to-earnings-growth ratio of 1.80 and a beta of 2.20. The firm has a fifty day moving average of $14.54 and a two-hundred day moving average of $15.15.

SailPoint (NASDAQ:SAIL) last announced its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The firm had revenue of $280.14 million for the quarter. During the same period in the previous year, the firm earned $0.01 EPS. The firm’s revenue was up 21.5% on a year-over-year basis. 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 analysts expect that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of SailPoint

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in SailPoint during the fourth quarter valued at about $234,681,000. OFI Invest Asset Management raised its position in 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 acquiring an additional 401,431 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in 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 acquiring an additional 255,720 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in SailPoint by 215.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,616 shares of the company’s stock valued at $2,111,000 after acquiring an additional 65,329 shares during the last quarter. Finally, Maridea Wealth Management LLC acquired a new stake in SailPoint in the 4th quarter valued at about $1,816,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of SailPoint in a report on Wednesday, June 17th. Wells Fargo & Company raised their target price on shares of SailPoint from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Stephens restated an “overweight” rating and set a $20.00 price target on shares of SailPoint in a research report on Wednesday, June 17th. BTIG Research restated a “buy” rating and set a $18.00 price target on shares of SailPoint in a research report on Tuesday, June 9th. Finally, Mizuho set a $16.00 price target on shares of SailPoint in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.08.

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.