SailPoint (NASDAQ:SAIL) CEO Mark Mcclain Sells 118,194 Shares of Stock

SailPoint, Inc. (NASDAQ:SAIL) CEO Mark Mcclain sold 118,194 shares of SailPoint stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total transaction of $1,925,380.26. Following the completion of the sale, the chief executive officer owned 8,187,130 shares in the company, valued at approximately $133,368,347.70. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

SailPoint Stock Performance

Shares of SAIL traded down $0.26 during midday trading on Thursday, hitting $14.85. 5,858,299 shares of the company traded hands, compared to its average volume of 3,668,685. The firm has a 50 day moving average of $14.54 and a 200-day moving average of $15.15. SailPoint, Inc. has a 52 week low of $10.30 and a 52 week high of $24.00. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -55.00, a PEG ratio of 1.80 and a beta of 2.20.

SailPoint (NASDAQ:SAIL) last issued its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm 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 revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Sell-side analysts predict that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SAIL. Norges Bank bought a new position in SailPoint in the fourth quarter worth approximately $234,681,000. UBS Group AG lifted its stake in shares of SailPoint by 116.3% during the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after purchasing an additional 2,219,593 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in SailPoint by 51.0% during the first quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock valued at $38,339,000 after purchasing an additional 978,376 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SailPoint by 1.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,869,273 shares of the company’s stock valued at $63,359,000 after purchasing an additional 49,718 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in SailPoint by 20.9% in the third quarter. Alliancebernstein L.P. now owns 2,680,131 shares of the company’s stock valued at $59,177,000 after purchasing an additional 464,098 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price objective on shares of SailPoint in a research note on Friday, June 12th. BMO Capital Markets reiterated an “outperform” rating on shares of SailPoint in a research report on Wednesday, June 10th. 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. Robert W. Baird decreased their price target on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Finally, Barclays lowered their price objective on shares of SailPoint from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.08.

About SailPoint

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.