SailPoint (NASDAQ:SAIL) Director Sells $94,612.50 in Stock

SailPoint, Inc. (NASDAQ:SAIL) Director James Hagan sold 4,205 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $22.50, for a total transaction of $94,612.50. Following the completion of the sale, the director directly owned 94,125 shares in the company, valued at approximately $2,117,812.50. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SailPoint Trading Down 4.3%

SailPoint stock opened at $21.06 on Friday. The company has a fifty day simple moving average of $19.90 and a 200-day simple moving average of $16.14. The stock has a market cap of $12.02 billion, a P/E ratio of 73.33, a price-to-earnings-growth ratio of 2.33 and a beta of 2.15. SailPoint, Inc. has a 12-month low of $10.30 and a 12-month high of $22.62.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. SailPoint had a positive return on equity of 2.44% and a negative net margin of 16.92%. The company had revenue of $308.81 million during the quarter. During the same period last year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. As a group, sell-side analysts forecast that SailPoint, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of SailPoint

Hedge funds have recently modified their holdings of the business. Wasatch Advisors LP purchased a new position in shares of SailPoint in the 2nd quarter valued at about $66,173,000. BlackRock Inc. purchased a new stake in SailPoint during the second quarter worth $65,050,000. Freestone Grove Partners LP purchased a new position in shares of SailPoint in the second quarter valued at $21,266,000. Bamco Inc. NY purchased a new stake in shares of SailPoint in the 2nd quarter worth about $15,914,000. Finally, Bank of America Corp DE acquired a new stake in shares of SailPoint in the second quarter valued at approximately $15,661,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SAIL shares. Evercore reissued an “outperform” rating on shares of SailPoint in a research report on Thursday, September 10th. Oppenheimer began coverage on SailPoint in a research note on Wednesday, October 7th. They set an “outperform” rating and a $30.00 price target on the stock. Wells Fargo & Company boosted their price objective on SailPoint from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Bank of America increased their price objective on SailPoint from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, September 18th. Finally, KeyCorp began coverage on shares of SailPoint in a research note on Friday, October 2nd. They issued a “sector weight” rating on the stock. Twenty-one investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SailPoint currently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

About SailPoint

SailPoint Technologies, Inc (NASDAQ:SAIL) provides identity security software that helps organizations manage and protect digital identities and access to applications, data, and other technology resources. Its platform is designed to support identity governance, access management, compliance, and security operations across complex information-technology environments.

The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform for managing workforce and machine identities, as well as identity governance and administration capabilities delivered through its broader SailPoint platform.