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

SailPoint, Inc. (NASDAQ:SAIL) CAO Mitra Rezvan sold 7,487 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $20.00, for a total transaction of $149,740.00. Following the sale, the chief accounting officer owned 189,476 shares in the company, valued at $3,789,520. This represents a 3.80% decrease in their position. The transaction 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 stock was sold at an average price of $11.46, for a total transaction of $39,789.12.
• On Wednesday, April 8th, Mitra Rezvan sold 1,681 shares of SailPoint stock. The stock was sold at an average price of $12.80, for a total transaction of $21,516.80.
• On Tuesday, April 7th, Mitra Rezvan sold 1,683 shares of SailPoint stock. The stock was sold at an average price of $12.72, for a total transaction of $21,407.76.

SailPoint Trading Up 3.1%

NASDAQ SAIL opened at $19.84 on Wednesday. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of -35.43 and a beta of 2.02. The firm’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $16.01. SailPoint, Inc. has a 1 year low of $10.30 and a 1 year high of $24.95.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $294.65 million for the quarter. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. The business’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($4.29) EPS. On average, equities research analysts forecast that SailPoint, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on SAIL shares. Scotiabank reduced their price target on shares of SailPoint from $24.00 to $16.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 19th. Wells Fargo & Company increased their price objective on shares of SailPoint from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. FBN Securities began coverage on shares of SailPoint in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $18.00 price objective for the company. Roth Mkm began coverage on shares of SailPoint in a research note on Wednesday, May 20th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, TD Cowen dropped their price objective on shares of SailPoint from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.29.

Hedge Funds Weigh In On SailPoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAIL. Aster Capital Management DIFC Ltd bought a new position in SailPoint in the 3rd quarter valued at approximately $31,000. Palladiem LLC bought a new position in shares of SailPoint during the fourth quarter valued at $42,000. Kestra Advisory Services LLC bought a new position in shares of SailPoint during the fourth quarter valued at $42,000. State of Wyoming bought a new position in shares of SailPoint during the second quarter valued at $45,000. Finally, CWM LLC raised its stake in shares of SailPoint by 315.6% during the fourth quarter. CWM LLC now owns 2,656 shares of the company’s stock valued at $54,000 after acquiring an additional 2,017 shares during the last quarter.

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.