In-Depth Analysis Report on SailPoint (SAIL) Form 144 Filings

Form 144 is a form required by the U.S. Securities and Exchange Commission (SEC) for insiders when planning to sell company stock. Under the Securities Act of 1933 and SEC Rule 144, insiders (including executives, directors, and affiliates) must file Form 144 when planning to sell more than 5,000 shares of restricted or control stock, or shares with a total value exceeding $50,000, within a three-month period [1][2].

The core purpose of Form 144 is to ensure information transparency and protect investor interests. The filing must be submitted simultaneously with the actual sale order, and it includes key information such as the number of shares planned to be sold, estimated selling price range, stock source, and vesting date [3].

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According to public SEC filings, SailPoint, Inc. submitted multiple Form 144 filings on January 6, 2026 [4], involving several current and former executives of the company:

Filer	Position/Relationship	Planned Shares to Sell	Estimated Value	Sale Date
Gnanasambandam Chandrasekar	Executive	5,124 shares	$98,539	2026-01-06
Kristin Weston	Former Director	25,000 shares	$537,500	2025-12-18
Kristin Weston	Former Director	25,000 shares	$529,822	2025-12-17
Christopher Schmitt	Chief Legal Officer & Secretary	28,841 shares	$647,398	2025-10-08
Christopher Schmitt	Chief Legal Officer & Secretary	28,267 shares	$637,524	2025-10-07
Ronald J. Green	Director	8,450 shares	$184,539	2025-10-10
Brian Carolan	Executive	36,899 shares	$828,289	2025-10-08

are particularly noteworthy. According to Form 144 filings, he has sold a large number of shares in batches over the past three months [4]:

• October 7, 2025
  : Sold 12,654 shares, generating proceeds of $285,394
• October 8, 2025
  : Sold 12,911 shares, generating proceeds of $289,810
• October 9, 2025
  : Sold 27,174 shares, generating proceeds of $609,338
• January 6, 2026
  : Plans to sell 5,124 shares (from RSU vesting)

: These shares come from the vesting of Restricted Stock Units (RSUs). Chandrasekar received 37,424 RSUs on January 5, 2026, some of which are used for this sale plan [4]. RSU vesting is typically associated with employee equity incentive plans and is a common component of compensation for public company employees.

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From a technical analysis perspective, Form 144 filings show a certain correlation with stock price trends [0]:

:

Time Period	Stock Price Performance	Event Correlation
Early October 2025	Stock price hit a periodic high of $24.00	Period of multiple executives’ Form 144 filings
October 7-9, 2025	Continuous decline with a cumulative drop of approximately 6%	Period of intensive large-scale insider selling
December 2025	Stock price pulled back to $21.19-21.50	Sale by Former Director Kristin Weston
January 2026	Stock price fell to $20.13	Stock price has fallen approximately 16% from its 52-week high

Based on the latest technical analysis indicators [0]:

• Trend Judgment
  : Sideways trading, no clear trend direction
• Support Level
  : $19.69
• Resistance Level
  : $20.61
• Reference Trading Range
  : $19.69 - $20.61
• 20-Day Moving Average
  : $20.61 (current price is slightly below this average)
• 50-Day Moving Average
  : $20.13 (basically flat with the current price)

The MACD indicator shows no crossover signal, with an overall bearish bias; the K value in the KDJ indicator is 35.2, indicating a potential rebound opportunity in the oversold zone; the RSI is in the normal range.

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:

1. Routine Equity Incentive Liquidation
   : Most Form 144 filings stem from RSU vesting and option exercises, which are normal components of employee compensation plans, rather than a negative judgment on the company [1][2].

2. Transparency of the Pre-Filing System
   : Form 144 requires advance disclosure of sale plans, which is precisely to prevent “rat trading” and allow the market sufficient time to digest information.

3. Diversified Selling Strategy
   : Insiders typically use batch selling to reduce market impact, such as Chandrasekar’s batch selling model.

4. Tax Planning Considerations
   : Year-end sales may be related to tax planning needs and do not necessarily reflect judgments on the company’s prospects.

:

1. Sale Intensity and Timing
   : If insiders sell concentratedly at stock price highs, it may indicate an expectation of a short-term stock price peak.

2. Sale Proportion vs. Shareholding Proportion
   : Large-scale sales relative to total shareholdings may reflect insiders’ liquidity needs or a re-evaluation of valuation.

3. Continuous Filing Pattern
   : For example, Chandrasekar has sold consecutively over three months, with cumulative proceeds exceeding 52,000 shares (approximately $1.18 million); investors should pay attention to the trend of his shareholding changes.

4. Management Change Signal
   : Former Director Kristin Weston sold her shares in December, which may reflect changes in corporate governance.

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Indicator Category	Value	Assessment
Market Capitalization	$11.3 Billion	Large Software Company
Current Stock Price	$20.13	-
Consensus Target Price	$25.00	Upside Potential +24.2%
Analyst Rating	75.9% Buy	Bullish Bias
P/E (TTM)	-37.79x	Loss-Making (Growth Stock Trait)
Revenue Growth (Latest Quarter)	~21% YoY	Strong Growth
Latest EPS	$0.08	33% Above Expectations

:

Investor Type	Recommended Strategy	Rationale
Long-Term Investors	Hold existing positions or accumulate on dips	Strong revenue growth, bullish analyst consensus, 24% upside potential from target price
Short-Term Traders	Focus on support level $19.69	Sideways technical trading, wait for trend direction
Risk-Management Focused Investors	Set stop-loss below $19.00	Guard against downside risk from sustained insider selling pressure
Onlookers	Enter after stock price breaks through resistance level $20.61	No clear trend direction currently

:

• Continuous insider selling may increase short-term selling pressure
• Stock price has fallen approximately 16% from its 52-week high
• Negative P/E indicates the company is still in a loss-making state

:

• Sustained revenue growth (latest quarter exceeded expectations)
• 75.9% of analysts have given a Buy rating
• Next earnings report will be released on March 19, 2026

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SailPoint’s Form 144 filings reflect routine stock selling activities by the company’s insiders (including executives and directors), mainly stemming from the vesting of Restricted Stock Units (RSUs) and option exercises. These filings are a manifestation of SEC transparency rules and should not be automatically interpreted as negative signals.

:

1. Normal Phenomenon
   : Form 144 filings are common among public companies, especially technology companies with mature equity incentive plans.

2. Limited Short-Term Impact
   : Historical data shows that although the stock price fluctuates during the Form 144 filing period, no trend-based decline has occurred.

3. Long-Term Value Remains Unchanged
   : The company’s fundamentals remain solid, with strong revenue growth, and analysts are generally bullish.

4. Monitor Subsequent Developments
   : Investors should continue to monitor changes in insider trading patterns and the performance of the upcoming earnings report to be released on March 19, 2026.

: Form 144 filings should be considered as one factor in investment analysis, but not the sole basis for decision-making. Investors should make investment decisions after comprehensively considering the company’s fundamentals, industry prospects, valuation level, and personal risk tolerance.

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[1] Investopedia - SEC Form 144 Explained (https://www.investopedia.com/terms/f/form144.asp)

[2] DFIN - What is a Form 144 SEC Filing? (https://www.dfinsolutions.com/knowledge-hub/knowledge-resources/what-is-form-144-filing)

[3] SEC Investor.gov - Form 144 Glossary (https://www.investor.gov/introduction-investing/investing-basics/glossary/form-144)

[4] SEC.gov - SailPoint, Inc. Form 144 Filings (https://www.sec.gov/Archives/edgar/data/2030781/)

[5] Investing.com - Form 144 SailPoint Filings (https://www.investing.com/news/filings/form-144-sailpoint-for-6-january-93CH-4433806)

[6] Finviz - SailPoint SEC Filings & Insider Trading (https://finviz.com/quote.ashx?t=SAIL&ty=lf)