Mitra Rezvan Sells 7,487 Shares of SailPoint (NASDAQ:SAIL) Stock

SailPoint, Inc. (NASDAQ:SAIL) CAO Mitra Rezvan sold 7,487 shares of SailPoint stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $20.00, for a total value of $149,740.00. Following the completion of the sale, the chief accounting officer owned 189,476 shares of the company’s stock, valued at approximately $3,789,520. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mitra Rezvan also recently made the following trade(s):

• On Thursday, April 9th, Mitra Rezvan sold 3,472 shares of SailPoint stock. The shares were sold at an average price of $11.46, for a total value of $39,789.12.
• On Wednesday, April 8th, Mitra Rezvan sold 1,681 shares of SailPoint stock. The shares were sold at an average price of $12.80, for a total value of $21,516.80.
• On Tuesday, April 7th, Mitra Rezvan sold 1,683 shares of SailPoint stock. The shares were sold at an average price of $12.72, for a total value of $21,407.76.

SailPoint Stock Performance

NASDAQ:SAIL opened at $18.38 on Thursday. SailPoint, Inc. has a 52-week low of $10.30 and a 52-week high of $24.95. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of -32.82 and a beta of 2.02. The business’s fifty day moving average is $13.25 and its 200 day moving average is $16.00.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The company had revenue of $294.65 million for the quarter. During the same quarter in the previous year, the firm posted ($4.29) earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts predict that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On SailPoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAIL. Norges Bank purchased a new position in SailPoint during the fourth quarter worth about $234,681,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in SailPoint during the second quarter worth about $64,453,000. UBS Group AG grew its position in SailPoint by 116.3% during the third quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after buying an additional 2,219,593 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in SailPoint during the fourth quarter worth about $35,203,000. Finally, NZS Capital LLC grew its position in SailPoint by 186.6% during the third quarter. NZS Capital LLC now owns 1,747,161 shares of the company’s stock worth $38,577,000 after buying an additional 1,137,643 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SAIL. Robert W. Baird decreased their price objective on SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of SailPoint in a research note on Monday. Wells Fargo & Company boosted their price objective on SailPoint from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. The Goldman Sachs Group decreased their price objective on SailPoint from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Finally, TD Cowen reduced their target price on SailPoint from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, SailPoint presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.

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.