Chandrasekar Gnanasambandam Sells 19,540 Shares of SailPoint (NASDAQ:SAIL) Stock

SailPoint, Inc. (NASDAQ:SAIL) EVP Chandrasekar Gnanasambandam sold 19,540 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $301,306.80. Following the sale, the executive vice president directly owned 934,508 shares in the company, valued at approximately $14,410,113.36. The trade was a 2.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.

Chandrasekar Gnanasambandam also recently made the following trade(s):

• On Tuesday, July 7th, Chandrasekar Gnanasambandam sold 14,878 shares of SailPoint stock. The shares were sold at an average price of $16.29, for a total value of $242,362.62.

SailPoint Price Performance

SailPoint stock traded down $0.26 during trading hours on Thursday, reaching $14.85. The stock had a trading volume of 5,858,314 shares, compared to its average volume of 3,668,685. The company 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. The business’s 50 day moving average price is $14.54 and its 200-day moving average price is $15.15. SailPoint, Inc. has a 52 week low of $10.30 and a 52 week high of $24.00.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $280.14 million for the quarter. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, sell-side analysts forecast that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

SAIL has been the topic of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of SailPoint in a report on Wednesday, June 17th. Rosenblatt Securities initiated coverage on SailPoint in a report on Wednesday. They set a “neutral” rating and a $16.00 price objective for the company. Roth Capital began coverage on SailPoint in a research report on Wednesday, May 20th. They issued a “buy” rating and a $19.00 price objective for the company. Barclays dropped their target price on SailPoint from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Finally, Wells Fargo & Company upped their target price on SailPoint from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.08.

Institutional Trading of SailPoint

A number of institutional investors have recently bought and sold shares of SAIL. Royal Bank of Canada purchased a new stake in SailPoint during the 1st quarter worth approximately $1,146,000. Goldman Sachs Group Inc. purchased a new position in shares of SailPoint in the first quarter worth $7,546,000. JPMorgan Chase & Co. acquired a new stake in shares of SailPoint during the second quarter worth $692,000. Rhumbline Advisers acquired a new stake in shares of SailPoint during the second quarter worth $1,047,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of SailPoint during the second quarter worth $572,000.

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.